Minutes
ago, IRS Released new guidance
on the Once-Per-Year IRA Rollover Rule
IRS
released Announcement 2014-32
More to follow tomorrow, but for now, here’s what you need to know:
More to follow tomorrow, but for now, here’s what you need to know:
4
Major Updates:
1.
The
NEW (more strict) once-per-year IRA rollover rules will apply beginning January
1, 2015
2.
IRA
distributions taken in 2014 will not count against IRA distributions taken in
2015(for the new rules)
3.
The
once-per-year IRA rollover rule applies in aggregate to ALL IRAs…including Roth IRAs!
4.
A
check made payable to a receiving IRA will be treated as a trustee-to-trustee
transfer and will NOT count towards to
the once-per-year IRA rollover rule
As always please forward any questions to the office.
