Lakewood90712
Thinks s/he gets paid by the post
- Joined
- Jul 21, 2005
- Messages
- 2,223
I'm a little confused, even after reading thr IRS FAQ's
I opened a new Roth IRA with a 2017 contribution , and intended to move in funds from a existing Roth at another custodian. The receiving custodian wants me to initiate the transfer from the old custodian by sending funds via bankwire to my new account at the new custodian.
Does this become a rollover with the one per 12 mo. limit ? or is it a custodian to custodian transfer , exempt from the 12 mo. rule ?
It's fuzzy on the issue of custodian to custodian transfer , because the transfer is not made to the receiving custodian.
PS why is it the governments business how many transfers we make. It's our money, not the custodians
I opened a new Roth IRA with a 2017 contribution , and intended to move in funds from a existing Roth at another custodian. The receiving custodian wants me to initiate the transfer from the old custodian by sending funds via bankwire to my new account at the new custodian.
Does this become a rollover with the one per 12 mo. limit ? or is it a custodian to custodian transfer , exempt from the 12 mo. rule ?
It's fuzzy on the issue of custodian to custodian transfer , because the transfer is not made to the receiving custodian.
PS why is it the governments business how many transfers we make. It's our money, not the custodians
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