Must I use the 5-year rule for my inherited IRA? I inherited it from my 72 year old uncle.
You are subject to the rules that apply when someone dies before the RBD. The RBD is April 1 of the year following the year
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?
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.