NOTICE: IRA Rollover Rule Change Effective January 1, 2015
The IRA Rollover Rule refers to the numbers of times per 12-month period an IRA holder may distribute Individual Retirement Account (IRA) funds and then redeposit them back into the same or another qualified IRA within 60 days without tax or penalty. Previous IRS interpretation stated that an IRA holder could complete one (1) rollover per 12-month period per IRA owned. This included IRAs at different institutions as well as different types of IRAs. With this interpretation, an IRA holder potentially could have more than one qualified rollover. The updated IRS interpretation states that an IRA holder may complete one (1) rollover per 12-month period, regardless of the number of IRAs owned by the individual. This interpretation no longer differentiates between the number of IRAs or IRA types. With this interpretation, an IRA holder is limited to just one qualified rollover per 12-month period. The change, which stems from a US Tax Court ruling in the case of Bobrow v. Commissioner, is effective January 1, 2015. Due to this significant change, AmeriCU will be sending each IRA holder amended documents. In addition, we will be updating all affected internal documents to ensure that our policies and procedures are in compliance with the new interpretation. For more information, visit http://www.irs.gov/Retirement-Plans/IRA-One-Rollover-Per-Year-Rule.
Please contact us directly at 315.356.3236 or by email if you have any questions or to schedule an appointment.
Retirement Plan Participants
Please contact us directly at 315.356.3236 or by email if you have any questions or to schedule an appointment. We are always ready to provide you with updated income replacement projections, asset allocation assistance, or respond to any questions.
Retirement Plan Sponsors
Please contact us directly at 316.356.3236 or by email if you have any questions or to schedule an appointment.
* AmeriCU Capital Management, LLC is a registered investment adviser. All investment strategies have the potential for profit or loss and past performance is not a guarantee of future results. There can be no assurance that any specific investment will either be suitable or profitable for a client’s portfolio. AmeriCU Capital Management, LLC is a wholly owned subsidiary of AmeriCU Credit Union. Non-deposit products offered here are not Federally insured, are not obligations of the credit union, are not guaranteed by the credit union, and involve investment risks, including the possible loss of principal.
This site has been designed for informational purposes only. We reserve the right to make changes and corrections at any time, without notice. No information contained on this site constitutes investment advice. Past performance does not guarantee future results.
The information provided on this Web site is in no way intended as an offering or a solicitation of a security that may be referenced upon the site. It is not intended for distribution to, or use by, any person in any jurisdiction where such would be contrary to law or regulation or which would subject AmeriCU Capital Management, LLC to any registration requirement with such jurisdiction.
Unless specifically authorized in writing, any and all information contained on this site may not be reproduced, transmitted, displayed, distributed, published, or otherwise used. If you download or print any information from this site, you agree that you will not copy or remove any copyright or other notices displayed on the material.