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Text of IRS Announcement 2014-15: Application of One-Per-Year Limit on IRA Rollovers (PDF)
Internal Revenue Service [IRS] Link to more items from this source
[Official Guidance]
Mar. 20, 2014
"The IRS anticipates that it will follow the interpretation of 408(d)(3)(B) in [Bobrow v. Commissioner] and, accordingly, intends to withdraw the proposed regulation and revise Publication 590 to the extent needed to follow that interpretation. These actions by the IRS will not affect the ability of an IRA owner to transfer funds from one IRA trustee directly to another, because such a transfer is not a rollover and, therefore, is not subject to the one-rollover-per-year limitation.... The IRS understands that adoption of the Tax Court's interpretation of the statute will require IRA trustees to make changes in the processing of IRA rollovers and in IRA disclosure documents, which will take time to implement. Accordingly, the IRS will not apply the Bobrow interpretation of 408(d)(3)(B) to any rollover that involves an IRA distribution occurring before January 1, 2015."

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