IRS Announcement 2014-15 addresses a recent Tax Court opinion that limits the number of IRA-to-IRA rollovers an individual can make in a 12-month period. The interpretation indicates that the limitation applies on an aggregate basis, meaning that an individual could not make an IRA-to-IRA rollover if he or she had made such a rollover involving any of the individual’s IRAs in the preceding 1-year period. This rule is effective beginning January 1, 2015 and IRS Publication 590 will be updated accordingly.
Read more in The Gold Book under IRA Rollovers; General Rules and IRA Rollovers; Types; From One IRA to Another IRA.