The road to retirement is long. Along the way you may need to move the funds in your IRA. When that time comes, you will want to be sure that everything is done correctly. Moving your retirement funds can be tricky and the consequences of a mistake can be serious.
Rollover Rules
If you decide to move your funds to another IRA by doing a rollover, there will be many rules you will need to follow. The IRA distribution must be deposited as a rollover into the other IRA within 60 days from the day you receive it. Also, you are limited to one IRA-to IRA rollover within a 365-day period. This is true even if you have multiple traditional and Roth IRAs.
