Only One IRA Rollover Every 12 Months – Period!
Category: Looking to Invest Tags: IRA Article Highlights: One rollover per 12-month period Tax consequences Difference between a rollover and a transfer Relief Although this subject has been brought up before-and, yes, we are harping on the subject because of the profound tax consequences-this is a reminder that, beginning this year, individuals are only allowed one IRA rollover in any 12-month period (this includes SEP and Simple accounts, traditional and Roth IRAs). That is, 12 months must have elapsed from the date a rollover iscompleted before another rollover can be made. Failure to abide by this rule can be expensive. And the rule applies no matter how many IRAs an