IRS announces new rule regarding IRA-to-IRA rollover
The IRS recently announced that starting January 1, 2015, a person can do only one IRA-to-IRA rollover per type of IRA (Traditional, Roth, or SIMPLE) in a one-year period (365 days, not a calendar year) regardless of how many IRAs are owned by type of IRA (Traditional, Roth, or SIMPLE). The rollover rule does not apply separately to each of a person's individual retirement investments within an IRA type but to all of them in aggregate.
Read more about this here. To learn more about this IRS announcement, contact your 1st Source banker or advisor.