Rollovers to Qualified Plan
Revenue Ruling 2014-9 illustrates the mechanics of doing a tax-free conversion of after-tax Traditional IRA money by transferring the taxable portion of ALL your IRAs to a qualified plan (401k). If my client has a Simple-IRA in addition to the Traditional IRA, does the client have to transfer 100% of the taxable funds in the SIMPLE-IRA to the qualified plan in addition to transferring 100% of the taxable funds in the Traditional IRA to the qualified plan?
Permalink Submitted by Alan - IRA critic on Tue, 2015-11-10 00:01
Yes. But the funds cannot be rolled out of the SIMPLE until 2 years has passed from the date of the first SIMPLE contribution.