IRA 60 day distributions/rollovers

L1: IRA 60 day distributions/rolloversDear 72T,
Are there any limitations to how many IRA”s can be used in a year to distribute, then rollover to same or new IRA”s. Let”s say there are 4 IRA”s, can they each have a distribution on seperate dates of the year and thenhave a rollover performed prior to 60 days respectively. I understand the 60 day rollover criteria and the subsequent 365 day restriction from the distributiondatefor both the originating IRA and new Rollover IRA from future rollover availability.
Thank you2006-04-14 11:48, By: car-tows, IP: [71.254.83.249]

L2: IRA 60 day distributions/rolloversThe rollover limitations apply per account, not per taxpayer. Therefore, if you have 4 IRA accounts, there is no problem with a rollover to 4 new IRA accounts. What you cannot do is have more than one rollover within the 12 months from the same IRA account. So in the first example, you can”t do a partial rollover to 4 new accounts, then come back within 12 months and make another rollover from any of those IRA accounts, OR from any of the 4 new IRA accounts, because they received a rollover from the 4 original accounts.
You also have a limitation when rolling back to the same IRA account. If you take out funds and use them for 60 days, then roll the funds back, that IRA has used it”s allowed rollover, even though it contains the same funds as before.
Direct trustee transfers do not count as rollovers, so there are unlimited transfers allowed to and from accounts. 2006-04-14 18:33, By: Alan S., IP: [24.116.165.157]