60 day rollover from simple to trad IRA
if you are still working and have a simple ira at one custodian can you take a distribution and use a a 60 day rollover to put the money in a traditional ira at another custodian ?
if you are still working and have a simple ira at one custodian can you take a distribution and use a a 60 day rollover to put the money in a traditional ira at another custodian ?
Permalink Submitted by Alan - IRA critic on Tue, 2020-01-07 17:41
Yes, but only if you have met the SIMPLE IRA 2 year waiting period measured from the date of your first SIMPLE IRA contribution. If you qualify, best to use direct transfer instead of a 60 day rollover.