koolkid
Apr 24 2003, 08:11 AM
Can distributions be rolled over from SIMPLE IRAs to qualified plans?
Can distributions be rolled over from qualified plans to SIMPLE IRAs?
Belgarath
Apr 24 2003, 10:37 AM
1. Yes, but only if the "2 year period" has been satisfied.
2. No. Simple IRA's cannot accept rollovers other than from another Simple IRA.
Bob K
Apr 24 2003, 10:42 AM
Once the SIMPLE IRA assets have gotten past the 72(t)(6) 25% penalty period of two years they can be transferred into a qualified plan.
This is covered in Section 642 (b)(3) of EGTRRA.
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