Pension RC Posted March 3, 2016 Posted March 3, 2016 My understanding is that if a person has 5 IRA's and he rolls over the funds from one IRA to his other 4 IRA's this doesn't violate the one IRA rollover per year rule. Is that correct? Any responses would be appreciated!
ETA Consulting LLC Posted March 3, 2016 Posted March 3, 2016 This is correct. A transfer is still a transfer; and those are unlimited. It becomes an issue when you take constructive receipt of the funds. Good Luck! CPC, QPA, QKA, TGPC, ERPA
jpod Posted March 3, 2016 Posted March 3, 2016 Introducing the concept of "transfer" makes your answer confusing. The one-per-year rule applies to distributions rolled over, not how many plans the distribution is rolled to, so for that reason Pension RC is correct.
ETA Consulting LLC Posted March 4, 2016 Posted March 4, 2016 Introducing the concept of "transfer" makes your answer confusing. The one-per-year rule applies to distributions rolled over, not how many plans the distribution is rolled to, so for that reason Pension RC is correct. Yeah, I mis-read the question :-) I read 5 to 1; not 1 to 5. CPC, QPA, QKA, TGPC, ERPA
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