Permalink Submitted by Alan - IRA critic on Tue, 2021-11-30 20:37
Either one, but ONLY after 2 years has passed from the date of the first SIMPLE IRA contribution. A rollover IRA IS a traditional IRA. Best to use direct truster transfer to move the funds to avoid tax reporting and exhausting the one 60 day rollover allowed over a 12 month period.
Permalink Submitted by Alan - IRA critic on Tue, 2021-11-30 20:37
Either one, but ONLY after 2 years has passed from the date of the first SIMPLE IRA contribution. A rollover IRA IS a traditional IRA. Best to use direct truster transfer to move the funds to avoid tax reporting and exhausting the one 60 day rollover allowed over a 12 month period.