60 day rollover
HI:
I am aware of the new rule regarding once-per-year ira rollover. My question is can an employee take a distribution from his 401k and then put it in an IRA within 60 days? Is this strictly limited to IRAs? I would assume so. just curious. Thank you.
Permalink Submitted by Alan - IRA critic on Thu, 2015-03-26 17:45
Yes, the one rollover restriction only applies to IRA to IRA rollovers. With a 401k on either end of the rollover, that rollover is ignored with respect to the one rollover limit.