Are there any waiting period for a Simple IRA?
Hello,
we have a client that is questioning if there is a 60 day waiting period for simple IRA?
I know there is a 2 year participation before simple IRA can move to another carrier if plan allows it but not sure if there is also a 60 day waiting when it comes to Simple IRA.
Do you know ?
Permalink Submitted by Alan Spross on Tue, 2011-05-03 20:36
The only holding period is the 2 year period from the date of the first contribution before doing a transfer or rollover out of the plan. For routine rollovers to another IRA, there is also the usual 60 day time limit to complete the rollover.