IRA-to-IRA Rollovers―One Per Year (12 Months) Rule
As a result of the Bobrow v. Commissioner Tax Court case in which an individual was denied the tax-free rollover treatment of distributions from multiple individual retirement accounts (IRA) taken during the same 12-month period, and the IRS’s announcement that it will begin enforcement starting on January 1, 2015, Wolters Kluwer Financial Services is notifying you of our intent to update our documents to reflect the Bobrow decision and is strongly recommending that you send your customers a plan amendment and information to educate them on this change.

The impact to your customers, if uninformed, could be significant.

Recommended Action Steps

1. Review our free training that will help explain this change, its impact to you and your customers, and our recommended actions.
  • Click here to view the presentation.
  • Click here to read our recently written article, “IRS Announces IRA Rollover Rule Game Changer”.

2. Attend one of our Live Seminars or Live Streaming Webinars to learn more on this change and its impact.

3. Because of the significant impact and penalties associated with this change, we are strongly recommending that you send amendments and educational materials to your customers to help them understand this change.

4. For those Wolters Kluwer Financial Services customers who purchase paper IRA agreements and amendments for these documents, you need to purchase the updated versions.
  • Paper Customers – Request follow-up from your account representative.
  • Electronic Document (E-Form) Customers – Your new documents will be sent to your Core in December.  Your core will then be responsible for loading them into your system.
  • ComplianceOne deposit Customers – Your new documents will be available with the December release.

If you would like to speak with your account representative on this change and/or place your order, please complete the request form below: