60 day rule with Roth IRAs and Traditional IRAs
I understand that as of 2015 you can only do one rollover per year (utilizing the 60 day window) per IRA owner–no longer per IRA. Does this apply to Roth and TIRA? For example could you do a rollover between TIRAs and also a rollover between Roths in the same year. Or are Roths, TIRAs and for that matter SIMPLE and SEPS all considered together in the one rollover per year rule?
Thank you.
Permalink Submitted by Alan - IRA critic on Tue, 2015-08-18 17:30
The limit applies collectively (not separately) to all IRAs including TIRA, Roth, SEP, and SIMPLE IRAs. Transactions not subject to the limit are conversions and rollovers where a non IRA account is on either end of the rollover.