once-per-year IRA rollover rule | Ed Slott and Company, LLC

once-per-year IRA rollover rule

60-Day Rollovers and Multiple Checks

We continuously get questions on 60-day rollovers. Many times those questions revolve around a client receiving more than one distribution or wanting to complete the 60-day rollover with more than one distribution. Here is what you need to know.

Is There a Way Around the 10% Early Distribution Penalty? This Week’s Q&A

This week's Slott Report Mailbag looks into the one-rollover-per-year rule, RMDs and the 10% early distribution penalty.

One-Rollover-Per-Year Rule and Spouse Beneficiaries

Hopefully, by now everyone has heard that IRA owners can only do one IRA-to-IRA or Roth IRA-to-Roth IRA 60-day rollover in any one-year period. This interpretation of the 60-day rollover rules was part of a 2014 Tax Court decision (Bobrow v. Commissioner, T.C.Memo. 2014-21). What was unclear from this ruling and from subsequent IRS guidance was whether or not the rule applied to a surviving spouse who inherited multiple IRAs from a deceased spouse.

10 Things You Should Know about the New Fix for Late IRA Rollovers

There is good news for everyone with a retirement account. The IRS recently released Revenue Procedure 2016-47, which provides a new and easier way for you to complete a late 60-day rollover of retirement funds using a self-certification procedure. Here are 10 things you should know about this new procedure that just might save your retirement savings.

Three IRA Rollover Rules You Must Know

When it comes to investing your IRAs, you are in the driver’s seat. If an investment is no longer working for you and another opportunity better fits your retirement savings strategy, you may want to move your IRA funds. You are probably aware that some investments may limit your ability to do this or impose penalties, but often overlooked are the serious consequences that will occur if you run afoul of the IRA rules when trying to make your move. Before you decide to take a distribution from your IRA, you will want to understand three very important rules that apply to rollovers.

2015 IRA Distribution Being Rolled Over in 2016? 4 Facts You Must Know

The rules for rolling over IRA distributions can be complicated. These rules can become especially challenging at the end of the calendar year. If you are taking a distribution from your IRA at end of 2015 and considering a roll over that may not be completed until 2016, here are four facts you will want to know.

New Rules to Know Before Moving Your IRA

If you are an IRA owner looking for the best investment option, there are new rules in 2015 that you will want to know before moving your IRA. If you make an error in your effort to maximize the return on your IRA, you may end up with your entire IRA being distributed and taxable to you.

What Are My Options For Naming a Trust as IRA Beneficiary for a Minor Grandchild?

This week's Slott Report Mailbag looks at the logistics of naming a trust as IRA beneficiary for minor children and strikes down a common mistake made by employer plans when dealing with employer plan distributions rolled over to an IRA.

Will I Be Affected By The Once-Per-Year IRA Rollover Rule?

ed slott IRA questions
This week's Slott Report Mailbag inquires about the new once-per-year IRA rollover rule as well as the tax implications on an IRA-to-Roth IRA conversion. As always, we recommend you work with a competent, educated financial advisor to keep your retirement nest egg safe and secure. You can find one in your area here.

Updated Guidance on the Once-Per-Year IRA Rollover Rule

guidance on the once-per-year IRA rollover rule
Yesterday, the IRS released IRS Announcement 2014-32, providing updated guidance on the once-per-year IRA rollover rule. This guidance is extremely important and impacts anyone with more than one IRA and Roth IRA... combined!

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