New IRA rollover rules
Do the new rollover rules allow consolidating multiple traditional IRAs into one account by doing a custodian to custodian transfer? Where can one find a good article or resource that describes the rules for various types of IRAs and scenarios?
Permalink Submitted by Alan - IRA critic on Tue, 2014-12-09 00:11
Pub 590 contains IRA related rules. http://benefitslink.com/src/irs/a-14-32.pdf explains the recent rollover restrictions, but direct trustee transfers are unlimited and therefore more vital to use under the new rules. Starting 1/1, taxpayers are only allowed to do ONE indirect 60 day rollover in a 12 month period of time, so your consolidation could only be one for one of the IRA accounts if not done by direct transfer.