The limitation on rollovers applies on a per IRA basis. In general, if an IRA is involved in an IRA-to-IRA rollover, it cannot be involved in another IRA-to-IRA rollover within the next 12-month period. However, this does not prevent the IRA from being moved to another IRA as a trustee-to-trustee transfer. There are no limits on the amount of times you can move assets between your IRAs as a trustee-tot-trustee transfer. In order to transfer the assets, contact the new IRA custodian/trustee and it initiate the transfer. You should avoid having the current custodian issue a check to you as a distribution.

To learn more, read Common IRA Rollover Mistakes.

This question was answered by Denise Appleby
(Contact Denise)

  1. Can I return funds to my Traditional IRA after taking a distribution?

    If you take a distribution from your Traditional IRA, you can roll over the amount to the same Traditional IRA or another ... Read Answer >>
Related Articles
  1. Retirement

    Avoid the Most Common IRA Rollover Mistakes

    Avoid paying excess taxes by learning some simple transfer rules.
  2. Financial Advisor

    Why Rollover Your Retirement Assets into an IRA?

    If you're in the workplace now, chances are you'll ask yourself this question eventually: 'Should I rollover to an IRA?' Here's a guide.
  3. Investing

    Avoid These Common IRA Rollover Mistakes

    Rolling over an IRA can lead to higher returns and other perks; but avoid these common mistakes.
  4. Retirement

    Avoid Taxes on IRA Rollovers

    For years, IRA owners have been allowed to roll over their money from one IRA to another once a year without penalty, for each IRA account they had. A tax court ruling in January 2014 has brought ...
  5. Retirement

    11 Things You May Not Know About Your IRA

    These little-known features will help you get the most out of your retirement savings.
  6. Retirement

    Wealth-Building IRA Rollovers

    Rollovers allow your tax-deferred retirement assets to grow, even when the world around you is changing.
  7. Taxes

    Unexpected 1099-R Form: What To Do

    Did your IRA custodian report distributions you thought were non-reportable? Find out what went wrong.
  8. Retirement

    Moving Retirement Plan Assets: How To Avoid Mistakes

    Sometimes things go wrong in a simple transfer of funds. Make sure you know how to avoid penalties.
  9. Taxes

    How IRS Form 5498 Helps You

    If you have an IRA, you'll be getting this form. Here's the useful information it contains.
  10. Retirement

    Guide To 401(k) And IRA Rollovers

    Follow the steps detailed below when you need to roll over your 401(k) or IRA account to be sure you preserve tax benefits and avoid penalties.
  1. IRA Rollover

    A transfer of funds from a retirement account into a Traditional ...
  2. Rollover IRA

    A special type of traditional individual retirement account into ...
  3. IRA Transfer

    The transfer of funds from an Individual Retirement Account (IRA) ...
  4. Same Property Rule

    A regulation relating to IRA rollovers stipulating that whenever ...
  5. Revoked IRA

    An IRA holder may revoke an IRA within the 7 days after the IRA ...
  6. Traditional IRA

    An individual retirement account (IRA) that allows individuals ...
Hot Definitions
  1. Nest Egg

    A substantial sum of money that has been saved or invested for a specific purpose. A nest egg is generally earmarked for ...
  2. Denial Of Service Attack (DoS)

    An intentional cyberattack carried out on networks, websites and online resources in order to restrict access to its legitimate ...
  3. Perkins Loan

    A loan program that provides low-interest student loans to undergraduate and graduate students who demonstrate exceptional ...
  4. Wealth Management

    A high-level professional service that combines financial/investment advice, accounting/tax services, retirement planning ...
  5. Assets Under Management - AUM

    The market value of assets that an investment company manages on behalf of investors. Assets under management (AUM) is looked ...
  6. Subprime Auto Loan

    A type of auto loan approved for people with substandard credit scores or limited credit histories. There is no official ...
Trading Center