Q. I have several 401(k) plans from prior employers. Am I limited to one rollover to an IRA for 2010? D.K., Armonk, N.Y.
A. No. You can roll over from multiple 401(k) plans to IRAs in the same calendar year. There’s no restriction on the number as long as you meet the basic requirements. You’re probably confusing these rollovers with the one-year limit on IRA-to-IRA rollovers. Generally, if you roll over funds from one IRA to another, you then can’t roll over funds from either IRA for at least one year.
Tip: The one-year prohibition doesn’t extend to any other IRAs you may own.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/16613/no-limit-on-401k-to-ira-rollovers "