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Jan 9, 2015, 7:18 AM

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IRS limits to one the number of your permitted IRS transfers per year

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The following, received from the Vanguard Group (mutual funds etc) is dated Dec. 8, but I just received. Am forwarding this since many of Mexconnect's U.S. investor readers may be out of the loop, as am/was, I on IRS changes.

IRS changing limit on number of IRA rolloversDecember 08, 2014The IRS announced that beginning January 1, 2015, you'll be limited to only one IRA-to-IRA rollover within a 365-day period, no matter how many IRAs you have. Previously, the IRS permitted one rollover per year for each IRA you owned. Benefits of an asset transfer
If you still want to move IRA assets, you may want to consider doing so via an asset transfer instead of an indirect rollover. Asset transfers aren't affected by the rollover limit or subject to tax reporting.
With an indirect rollover, IRA proceeds are made payable to the owner, who has 60 days to deposit them into another (or the same) IRA. With an asset transfer, IRA proceeds move directly from one IRA custodian or trustee to another. What's staying the same
This change doesn't affect conversions from traditional to Roth IRAs. Rules for direct rollovers from an employer plan to an IRA also remain unchanged, and there are no limits on the number of direct rollovers you can make in any given year.
Also, you'll still get tax forms to report your rollover activity. Both a direct rollover from an employer plan and one between IRAs will generate a Form 1099-R to report distributions and a Form 5498 to report rollover contributions into IRAs.

 
 
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