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Level 4
posted Oct 8, 2024 12:37:48 AM

Does the 1 Rollover Per Year Rule Apply to Direct Transfers from One IRA to Another IRA at a Given Custodian?

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1 Best answer
Level 15
Oct 8, 2024 5:16:08 AM

A properly done trustee-to-trustee transfer (including within a single trustee) where the funds are never made payable to you is neither a distribution nor a rollover.  Because it is neither a distribution nor a rollover, a trustee-to-trustee transfer is not reportable on your tax return, and does not involve the one-rollover-per year limitation.

1 Replies
Level 15
Oct 8, 2024 5:16:08 AM

A properly done trustee-to-trustee transfer (including within a single trustee) where the funds are never made payable to you is neither a distribution nor a rollover.  Because it is neither a distribution nor a rollover, a trustee-to-trustee transfer is not reportable on your tax return, and does not involve the one-rollover-per year limitation.