Rollover of Simple IRA into 401k?

[Guest Amanda Davis]

Are Simple IRAs able to be rolled over into 401k plans?

Our document says that the Plan is eligible to accept rollovers from "qualified plans" and that the rollover must meet the applicable requirements of Code sec. 402, 403 or 408.

Any help is appreciated!

[Guest rmeigs]

IRS Publication 590 states the following:

"Two-year rule. To qualify as a tax-free rollover (or a tax-free trustee-to-trustee transfer), a rollover distribution (or a transfer) made from a SIMPLE IRA during the 2-year period beginning on the date on which you first participated in your employer’s SIMPLE plan must be contributed (or transferred) to another SIMPLE IRA. The 2-year period begins on the first day on which contributions made by your employer are deposited in your SIMPLE IRA. After the 2-year period, amounts in a SIMPLE IRA can be rolled over or transferred tax free to an IRA other than a SIMPLE IRA, or to a qualified plan, a tax-sheltered annuity (section 403(b) plan), or deferred compensation plan of a state or local government (section 457 plan)."