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September 27, 2022

The one-year limitation on IRA rollovers

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The one-year limitation on IRA rollovers

Question: I rolled over a distribution from my traditional IRA to my SEP IRA about 6-months ago. Now, I want to roll over a distribution from my 401(k) to my traditional IRA. However, I have been told that I am allowed only one rollover per 12 months. Is that true?

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Answer: No.  That is not true. You are allowed to perform only one IRA-to-IRA rollover during a 12-month period. This limitation does not apply to any other type of rollovers. As such, you may perform a 401(k)-to-IRA rollover, regardless of whether you have already performed an IRA-to-IRA rollover during the same period.

Written By

Denise Appleby

Denise is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA resources for financial/ tax/legal professionals. She has over 20 years of experience in the retirement plans field, which includes training and technical consultation.

Denise writes and publishes educational /marketing tools for advisors; available at http://irapublications.com. Denise co-authored several books on IRAs

Denise is a graduate of The John Marshall Law School, where she obtained a Masters of Jurisprudence in Employee Benefits, and has earned 5 professional retirement designations.
She has appeared on numerous media programs, sharing her insights on retirement tax laws.

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