60-day rollover
suppose client age 74 withdraws funds today. Within 60 days can he deposit them back into the same IRA account, or does it have to be a different IRA account?
If it matters, client has already taken his RMD for 2106. these are additional funds.
Thank you.
Permalink Submitted by Alan - IRA critic on Fri, 2016-03-04 17:10
Yes, it does matter as the RMD must be satisfied before additional distributions can be rolled over. The additional distribution can be rolled into either a new or back to the same iRA account. Thereafter, the client cannot do another 60 day rollover in the next 12 months.