IRA Indirect Rollover to 401k

Submitted by Brian Kuhn on Fri, 2019-01-04 15:51

Person took distribution from IRA with intention of rolling into a individual 401k. Questions:

1. Will the receiving 401k issue any IRS document confirming receipt of rollover, like a 5498?
2. Does this trigger the 12 month wait to repeat another movement from IRA to 401k?
3. Does the 12 month rule mean calendar year so they could do one late 2018 and now again in 2019?

Thanks



Submitted by Alan - IRA critic on Fri, 2019-01-04 16:10

  1. No, which explains why the 1040 Inst call for an explanatory statement on taxpayer’s return about the rollover.
  2. No. The one rollover restriction only applies to IRA to IRA transactions. 
  3. Not applicable.


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