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IRA-to-IRA Rollovers - One Per Year (12 Months) Rule

Beginning as early as January 1, 2015, you can make only one rollover from an IRA to another (or the same) IRA in any 12-month period, regardless of the number of IRAs you own. The U.S. Tax Court recently held that you can’t make a non-taxable rollover from one IRA to another if you have already made a rollover from any of your IRAs in the preceding 1-year period (Bobrow v. Commissioner, T.C. Memo. 2014-21).

Learn how this change will impact your customers at www.WoltersKluwerFS.com/Rollovers.

A CBSC Preferred Provider, Wolters Kluwer Financial Services is the market leader in providing compliance, credit, and operational risk management solutions. Its integrated and stand-alone deposit, lending and IRA solutions can help community banks efficiently comply with state and federal regulations.