Does 12-month rollover limit rule apply to Roths or only to IRAs? Client additionally has several IRAs he wants to coalesce for simplicity sake. Is either penalized?

Greta · ‎12-07-2019

qbteachmt · ‎12-07-2019

Here is an article with the details:

https://www.irs.gov/retirement-plans/plan-participant-employee/rollovers-of-retirement-plan-and-ira-...

Your Client can make this as Direct Transfers, not Roll Overs.

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TaxMonkey · ‎12-07-2019

The one indirect rollover per 12 month period applies to both IRA and ROTH IRA.

dd4vols · ‎12-07-2019

i'm just impressed at the usage of 'coalesce' in this forum...……..

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IRonMaN · ‎12-07-2019

Me too, although I'm not really sure how coal mining fits into IRA rollovers.

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George4Tacks · ‎12-07-2019

I thought that was amalgamate.

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