Suppose retired client regularly takes quarterly distributions from IRA 1 and places the cash into the savings account at their local bank.
In mid-October, 2020, after three quarterly distributions for the year have been made, they decide they want to indirectly roll that money over to IRA 2. These are neither RMDs nor CRDs. These are normal plain-vanilla voluntary distributions for 2020.
My knee-jerk reaction is that the first two quarterly payments (made on April 1 and July 1) have passed their 60-day window and are no longer eligible for rollover. But I have a nagging feeling that I am overlooking something here.
Is there any way to aggregate the April 1 and July 1 payments with the October 1 payment, roll all of that money together over to IRA 2 in mid-October and fully comply with the 60-day window?
Please and thank you!