Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 1
But he also went on to say that I would need to recharacterize the funds and that these would count as contributions, blah I don’t think the 457 rep really knew what he was talking about.

Conversions and rollovers are not counted as contributions.

Also, if I do have to go through the 3-step process, does the 457 rollover into the Traditional IRA (or even the Roth IRA) then use up my one rollover per year limit (assuming that I have only a single account for each type)?

The one rollover limit only applies for non-Trustee to Trustee transactions. As long as you don't take control of the funds, they can be moved an unlimited number of times during a year.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.