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IRS Announces Changes to Annual IRA Rollover Limit Following Tax Court Decision 


The US Tax Court recently decided that the rule limiting IRA-to-IRA rollovers to one every 12 months applies on a per-taxpayer basis to all of his or her IRAs rather than a per-IRA basis.  In turn, the Internal Revenue Service announced that it would be following suit, applying the rule on an aggregate basis, meaning no matter how many IRAs a taxpayer has, the taxpayer is limited to one rollover per year.  Because IRA trustees will have to change their IRA rollover and disclosure procedures, the new rules are set to take effect next year.  We will keep you posted!

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