60 Day Rollover
If a client takes out $100,000 and plans on doing a 60 day rollover, within the 60 days they write one check for $60,000 and then a couple weeks later they write another one for the remaining 40,000 within the 60 day rollover time. Is this still considered their one 60 day rollover in a year?
Permalink Submitted by Alan - IRA critic on Tue, 2018-11-13 21:43
Yes, this is OK. Rollovers are measured by the distribution, not by the number of rollover contributions. As long as client took out the 100k in a single distribution, they are OK.