Hello,

I’m trying to help my parents consolidate some IRA accounts. They both have Traditional IRA’s and Simple IRA’s through my fathers business. They have had the SIMPLE plan in place for probably 10 years, but their advisor switched from US Bank to Wells Fargo and moved the Simple IRA.

My reading of the rules says you can roll out of a SIMPLE IRA once per 12 months. If they just moved the accounts with a full transfer between banks does that count towards the 12 month transfer? Also did it in anyway reset the 2 year window for rolling assets out to a traditional IRA.

Thanks!