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Transfer of SEP accounts


eilano
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Originally posted by Bill Berke

I think - yes.  But only once in any 12 months

To the first part of your response, the answer is correct. A SEP IRA can be transferred to any other SEP or traditional IRA .

To the second part of your response- there is no limit on the number of times you can transfer IRAs to IRAs, including SEP IRAs to SEP IRAs or SEP IRAs to traditional IRAs or vice versa.

The once per 12-month limitation you mentioned applies to ROLLOVERS. This rules states that if a DISTRIBUTION is taken from one IRA and rolled to another ( or the same )IRA, another distribution from the IRA (from which the first distribution was taken) cannot be rolled over if it is taken within twelve months

Life and Death Planning for Retirement Benefits by Natalie B. Choate
https://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/

www.DeniseAppleby.com

 

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