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.
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. To learn more about this IRS announcement, contact your 1st Source banker or advisor.