rollover 401k and Roth at same time
Client has 401k with pretax and after tax monies. The 401k company will be sending a check directly to the IRA company. But the after tax money they are sending a check to him directly.
Questions:
1. When he receives the check for his after tax money and he makes out a check from his personal checking account as a Roth rollover, will that count now as 2 rollovers in the same year?
Thank you,
Douglas
Permalink Submitted by Alan - IRA critic on Tue, 2023-12-19 16:06
No, completing a 60 day rollover of the after tax amount to a Roth IRA is allowable. DIstributions made from a non IRA plan do not count against the one rollover in 12 months limit. That limit only applies to rollovers between like kind IRA accounts.