Experience and Benefits
IRA Rollovers
Total or partial distributions from an IRA or qualified plan can be rolled into an IRA within sixty (60) days of receipt. If the rollover distribution is made from the employer's plan it is subject to 20% income tax withholding.
(a) No further IRA rollovers are permitted during the one year period following an IRA rollover. Section 408(d)(3)(b). Direct custodian-to-custodian (i.e. via wire) IRA transfers are not limited by this one‑per‑year rule.
(b) A distribution from an IRA can be rolled over into a qualified plan if all funds in the IRA are attributable to a prior tax‑free rollover of a total distribution from a qualified plan. No annual $2,000 contribution can be made to such a conduit or rollover IRA.
(c) A distribution from an inherited IRA is not eligible for rollover treatment except for a distribution to a surviving spouse.
(d) A rollover from a qualified plan to an IRA is irrevocable.