Retireby45ish
Recycles dryer sheets
- Joined
- Dec 8, 2018
- Messages
- 209
I have a few little IRAs in a bank and wanted to move them all to fidelity. But I googled qnd read that you can’t move more than one IRA in a year. The language is vague, or I am dense. But is the following ok? Wanted to double check.
IRA 1 at bank A
IRA 2 at bank B
IRA 3 at fidelity.
Move 1 to 3 (directly bank to bank) Move 2 to 3 (issue a check in the name of fidelity) and then I deposit in 60 days. These would occur in the same year. It seems strange that they would keep people from consolidating...here is what I’m reading/referencing.
“You generally can not make more than 1 rollover from the same IRA in within a 1 year period. You also cannot make a rollover during this 1 year from the IrA to which the distribution was rolled over. “
IRA 1 at bank A
IRA 2 at bank B
IRA 3 at fidelity.
Move 1 to 3 (directly bank to bank) Move 2 to 3 (issue a check in the name of fidelity) and then I deposit in 60 days. These would occur in the same year. It seems strange that they would keep people from consolidating...here is what I’m reading/referencing.
“You generally can not make more than 1 rollover from the same IRA in within a 1 year period. You also cannot make a rollover during this 1 year from the IrA to which the distribution was rolled over. “