Rollovers Into Simple IRA?

[Guest JPT]

Does anyone know why or if it is true that no qualified plans or IRAs are allowed to rollover into a Simple IRA? I understand the 2 year rule in the reverse direction, but what is the rationale for not allowing say, a traditional IRA to be rolled over to a Simple IRA? Obvisouly for account consolidation purposes. I can't seem to find an answer

[jevd]

AS stated in IRC Sec 408(p)(1)(B)

408(p) SIMPLE RETIREMENT ACCOUNTS. --

408(p)(1) IN GENERAL. --For purposes of this title, the term "simple retirement account" means an individual retirement plan (as defined in section 7701(a)(37)) --

408(p)(1)(A) with respect to which the requirements of paragraphs (3), (4), and (5) are met; and

408(p)(1)(B) with respect to which the only contributions allowed are contributions under a qualified salary reduction arrangement.