Can IRA Rollover be split between 2 new IRAs?

Can I take full distribution from one trad IRA and then open two new IRAs (at different banks) within the allotted time limit?



Yes. Since rollovers are counted by the number of distributions, you can do this as long as you have not taken a prior distribution you rolled over in the last 12 months. Generally, you should get used to moving money by direct trustee transfer since the number of rollovers is limited now to one per 12 month period for all your IRA accounts.

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