Custodian to Custodian IRA Transfer followed by 401k Rollover
With the exception of an alternative asset which will transfer on 12/31, I’ve just completed a transfer of two Traditional IRA Accounts for a client from a trust company custodian into one Traditional IRA account at a broker. These transfers were custodian to custodian. Is there any issue with adding an 401k rollover in the same year (i.e. this year)?
Thanks!
Permalink Submitted by Alan - IRA critic on Wed, 2018-11-28 16:32
Not a problem for two reasons. First, the funds already moved were done by direct trustee transfer and these are unlimited in number. Second, the one rollover limit per 12 month period only applies to IRA to like kind IRA rollovers, so a 401k rollover to an IRA would not count.
Permalink Submitted by Perry Piazza on Wed, 2018-11-28 17:26
Thanks a lot.