Once per year roll over rule

Submitted by Robert Wright on Tue, 2018-08-07 18:07

What is the Once Per Year Roll Over Rule?

One roll over from or to any one IRA in a rolling 12 month period?

One roll over from or to ALL IRAs I own in a rolling 12 month period?

Thank you in advance for your help?



Submitted by William Tuttle on Tue, 2018-08-07 21:30

  • You are limited to one distribution from one traditional or Roth IRA rolled over to one or more respective IRAs. It is the number of distributions that matter.
  • Roth conversions are not limited.
  • Trustee – Trustee transfers are not limited.
  • An individual should avoid doing IRA – IRA indirect rollovers.

  

Submitted by Alan - IRA critic on Tue, 2018-08-07 21:48

In addition, the 12 month period begins on the date you receive the distribution that is rolled over. The date the rollover contribution is made does not matter. And the IRS has no authority to waive this rule if it comes into play, unlike the 60 day deadline to complete a rollover.

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