60 day rollover rule
What do you think? Does the one per year 60 day rollover apply in this situation? Participant in a pension plan will receive a $300,000 distribution over a 6 week period. Participant will receive a check for $100,000 less 20% withholding every two weeks. Participant plans to rollover the checks to an IRA.
Permalink Submitted by Alan - IRA critic on Sat, 2015-03-28 18:21
Not a problem since the one rollover limitation only applies to IRA to IRA rollovers. This is coming from a qualified plan.
Permalink Submitted by Peter Thomann on Sat, 2015-03-28 21:22
Easy enough,v thank you Alan.