Project Description

Based on a recent (2014) court case, the IRS will change form instructions and will issue final regulations to allow only one rollover (defined as a distribution of funds from one IRA and contribution to another IRA no later than 60 days after distribution) during a one year period per taxpayer (not one rollover per IRA as allowed under proposed regulations (sec. 408 and current Publication 590).  Trustee to trustee transfers will not be limited by this change.