moving a roth ira from one financial institution to another
i opened a new roth ira in jan 2008 in a new financial institution by me rolling another roth ira into it from another financial institution. also in march i added to said new roth ira for my 2008 contribution. all roll overs were handled by me. meaning the checks were mailed to me and i did the roll over within the 60 days time limit. now i want to rollover to another financial institution, an institution to institution transfer. can i do this with no problems. thank you
Permalink Submitted by Alan Spross on Thu, 2008-06-19 22:55
Yes, there is no limit to the amount of direct trustee transfers you can do. However, you cannot do another rollover where you receive the funds from this IRA until 12 months passes from the date of the distribution that funded the last rollover.