Annuity IRA Withdrawal Riders
I have a client that is going to start the income rider on their IRA annuity because the gap between their account value and the protected value is so large. If the client receives a check I’m assuming that they could roll this money over to another IRA within 60 days. Can they roll it to two IRAs or roll it to one and transfer to others in the same year?
Permalink Submitted by Al Fry on Thu, 2009-02-26 02:24
How old is the client?
Permalink Submitted by Ryan Smith on Thu, 2009-02-26 11:38
57 years old
Permalink Submitted by Al Fry on Thu, 2009-02-26 21:43
No. Do the distribution annually, not monthly. They can do one rollover per 12 month period. Going into two IRAs may be allowed, but may be tricky. Why not go into one, then do a trustee-to-trustee transfer into the other?