UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: BruceCM Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76418  
Subject: Re: One Rollover Per Person Per Year Date: 4/6/2014 2:33 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Peter
From the IRS explanation of announcement 2014-15

"Beginning as early as January 1, 2015, you can make only one rollover from a traditional IRA to another (or the same) traditional IRA in any 12-month period, regardless of the number of IRAs you own (Announcement 2014-15). A similar limitation will apply to rollovers between Roth IRAs."

http://www.irs.gov/Retirement-Plans/IRA-One-Rollover-Per-Yea...

This seems logical, as a rollover from a TIRA to a RIRA would be a conversion, which currently does not count as a rollover for purposes of the 12 month limitation rule. And a rollover the other way would simply be a RIRA withdrawal of basis and a subsequent TIRA contribution....not a rollover. So a rollover could only happen between the same type of IRA which should mean that they are treated separately.

Just being curious, but I wonder if the TIRA rollover limit will also apply to SEP and SIMPLE IRAs...as these are in every way, except annual contribution limits and the 2 year withdrawal limitation of a SIMPLE, Sec. 408(a) Traditional IRAs.

BruceM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement