The first one was a rollover that started the 1 year clock for additional rollovers.
Direct trustee-to-trustee transfers of IRA's from one financial institution to another are not limited.
IRS Pub 590B <a rel="nofollow" target="_blank" href="
https://www.irs.gov/publications/p590a#en_US_2016_publink1000230570">https://www.irs.gov/publication...>
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"Waiting period between rollovers.
Application of one-rollover-per-year limitation.
You can make only one rollover from an IRA to another (or the same) IRA in any 1-year period regardless of the number of IRAs you own. The limit will apply by aggregating all of an individual's IRAs, including SEP and SIMPLE IRAs as well as traditional and Roth IRAs, effectively treating them as one IRA for purposes of the limit. However, trustee-to-trustee transfers between IRAs are not limited and rollovers from traditional IRAs to Roth IRAs (conversions) are not limited. "
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**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
