Rollover a SImple IRA to a Traditional IRA
For several years, I understand that you could only move from a Simple account to another Simple for two years after the person leaves the company.
I have had a couple of people say that they were told by a fund family that they could just rollover the Simple account to a traditional IRA.
Has the rule changed to allow this before 2 years of leaving the company?
Permalink Submitted by David Mertz on Wed, 2021-01-20 19:50
The 2-year period begins with the date of the first contribution to the SIMPLE IRA, not the date that the person leaves the company.