Once a Year Rollover

For a Roth IRA Rollover, I ran into a snag on the distribution. The institution that holds my Roth imposes a daily limit on the movement of funds from one account to another. So, my distribution got spread over three consecutive days.  All of the funds were re-deposited back in the same Roth IRA within 6o days.  Would the distribution be considered one withdrawal or three withdrawals?



You should be moving funds by direct transfers, as they are unlimited in number. That’s particularly true with this unusual custodian who limits distributions.

As to your question, there is a gray area if you requested only a single distribution and the custodian could only respond with 3 distributions. The one rollover rule is typically enforced by IRA custodians, so if they accepted the rollovers of all 3 distributions and because the distributions will be reported as a total on a single 1099R, you are probably all right.

But I would directly transfer the balance to another custodian who will not have these restrictions.

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