Common use of Rollovers and Conversions Clause in Contracts

Rollovers and Conversions. Your IRA may be rolled over to an IRA of yours, or may receive rollover contributions. Your Traditional IRA or SIMPLE IRA may be converted to a ▇▇▇▇ ▇▇▇, provided that all of the applicable rollover and conversion rules are followed. Rollover is a term used to describe a movement of cash or other property to your IRA from another IRA, or from your employer’s qualified retirement plan, 403(a) annuity plan, 403(b) tax-sheltered annuity, or 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan to your IRA. Conversion is a term used to describe the movement of Traditional or SIMPLE IRA assets to a ▇▇▇▇ ▇▇▇. A conversion and employer-sponsored retirement plan rollover to a ▇▇▇▇ ▇▇▇ is generally a taxable event. The general rollover and conversion rules are summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a competent tax advisor. 1. Traditional IRA-to-Traditional IRA Rollovers. Assets distributed from your Traditional IRA may be rolled over to the same Traditional IRA or another Traditional IRA of yours if the requirements of IRC Sec. 408(d)(3) are met. A proper Traditional IRA-to-Traditional IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. In the case of a distribution for a first-time homebuyer where there was a delay or cancellation of the purchase, the 60-day rollover period may be extended to 120 days. Effective for distributions taken on or after January 1, 2015, you are permitted to roll over only one distribution from an IRA (Traditional, ▇▇▇▇, or SIMPLE) in a 12-month period, regardless of the number of IRAs you own. A distribution may be rolled over to the same IRA or to another IRA that is eligible to receive the rollover. For more information on rollover limitations, you may wish to obtain IRS Publication 590, Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Rollovers and Conversions. Your IRA may be rolled over to an another IRA of yours, or may receive rollover contributions. Your Traditional IRA or SIMPLE IRA may be converted to a ▇▇▇▇ ▇▇▇, provided that all of the applicable rollover and conversion rules are followed. Rollover is a term used to describe a movement of cash or other property to your IRA from another IRA, or from your employer’s qualified retirement plan, 403(a) annuity plan, 403(b) tax-sheltered annuity, or 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan to your IRA. Conversion is a term used to describe the movement of Traditional or SIMPLE IRA assets to a ▇▇▇▇ ▇▇▇. A conversion and employer-sponsored retirement plan rollover to a ▇▇▇▇ ▇▇▇ is generally a taxable event. The general rollover and conversion rules are summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a competent tax advisor. 1. Traditional IRA-to-Traditional IRA Rollovers. Assets distributed from your Traditional IRA may be rolled over to the same Traditional IRA or another Traditional IRA of yours if the requirements of IRC Sec. 408(d)(3) are met. A proper Traditional IRA-to-Traditional IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. In the case of a distribution for a first-time homebuyer where there was a delay or cancellation of the purchase, the 60-day rollover period may be extended to 120 days. Effective for distributions taken on or after January 1, 2015, you You are permitted to roll over only one distribution from an IRA (Traditional, ▇▇▇▇, or SIMPLE) in a 12-month period, regardless of the number of IRAs you own. A distribution may be rolled over to the same IRA or to another IRA that is eligible to receive the rollover. For more information on rollover limitations, you may wish to obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Rollovers and Conversions. Your IRA may be rolled over to another IRA, SIMPLE IRA, or an IRA eligible employer-sponsored retirement plan of yours, or may receive rollover contributions. Your Traditional IRA , or SIMPLE IRA may be converted to a ▇▇▇▇ ▇▇▇, provided that all of the applicable rollover and conversion rules are followed. Rollover is a term used to describe a movement of cash or other property to your IRA from another IRA, or from your employer’s qualified retirement plan, 403(a) annuity planannuity, 403(b) tax-tax- sheltered annuity, or 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan Plan. The amount rolled over is not subject to your IRAtaxation or the additional 10 percent early distribution penalty tax. Conversion is a term used to describe the movement of Traditional or SIMPLE IRA assets to a ▇▇▇▇ ▇▇▇. A conversion and employer-sponsored retirement plan rollover to a ▇▇▇▇ ▇▇▇ generally is generally a taxable event. The general rollover and conversion rules are summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a competent tax advisor. 1. Traditional IRA-to-Traditional IRA Rollovers. Assets distributed from your Traditional IRA may be rolled over to the same Traditional IRA or another Traditional IRA of yours if the requirements of IRC Sec. 408(d)(3) are met. A proper Traditional IRA-to-Traditional IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. In the case of a distribution for a first-time homebuyer where there was a delay or cancellation of the purchase, the 60-day rollover period may be extended to 120 days. Effective for distributions taken on or after January 1, 2015, you You are permitted to roll over only one distribution from an IRA (Traditional, ▇▇▇▇, or SIMPLE) in a 12-month period, regardless of the number of IRAs you own. A distribution may be rolled over to the same IRA or to another IRA that is eligible to receive the rollover. For more information on rollover limitations, you may wish to obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Rollovers and Conversions. Your IRA ▇▇▇ may be rolled over to another ▇▇▇, SIMPLE ▇▇▇, or an IRA eligible employer-sponsored retirement plan of yours, or may receive rollover contributions. Your Traditional IRA , or SIMPLE IRA may be converted to a ▇▇▇▇ ▇▇▇, provided that all of the applicable rollover and conversion rules are followed. Rollover is a term used to describe a movement of cash or other property to your IRA ▇▇▇ from another IRA▇▇▇, or from your employer’s qualified retirement plan, 403(a) annuity planannuity, 403(b) tax-tax- sheltered annuity, or 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan Plan. The amount rolled over is not subject to your IRAtaxation or the additional 10 percent early distribution penalty tax. Conversion is a term used to describe the movement of Traditional or SIMPLE IRA ▇▇▇ assets to a ▇▇▇▇ ▇▇▇. A conversion and employer-sponsored retirement plan rollover to a ▇▇▇▇ ▇▇▇ generally is generally a taxable event. The general rollover and conversion rules are summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a competent tax advisor. 1. Traditional IRA-to▇▇▇-to-Traditional IRA ▇▇▇ Rollovers. Assets distributed from your Traditional IRA ▇▇▇ may be rolled over to the same Traditional IRA ▇▇▇ or another Traditional IRA ▇▇▇ of yours if the requirements of IRC Sec. 408(d)(3) are met. A proper Traditional IRA-to-Traditional IRA ▇▇▇-to-▇▇▇ rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. In the case of a distribution for a first-time homebuyer where there was a delay or cancellation of the purchase, the 60-day rollover period may be extended to 120 days. Effective for distributions taken on or after January 1, 2015, you You are permitted to roll over only one distribution from an IRA ▇▇▇ (Traditional, ▇▇▇▇, or SIMPLE) in a 12-month period, regardless of the number of IRAs you own. A distribution may be rolled over to the same IRA ▇▇▇ or to another IRA ▇▇▇ that is eligible to receive the rollover. For more information on rollover limitations, you may wish to obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Rollovers and Conversions. Rollover is a term used to describe a tax-free movement of cash or other property from your SIMPLE IRA to an employer-sponsored retirement plan, a Traditional IRA, or another SIMPLE IRA. Your SIMPLE IRA may be rolled over to an IRA of yoursanother SIMPLE IRA, or your SIMPLE IRA may receive rollover contributions. Your Traditional IRA or SIMPLE IRA contributions and may be converted to a ▇▇▇▇ ▇▇▇, provided that all of the applicable rollover and conversion rules are followed. Rollover is a term used to describe a movement of cash or other property to your IRA from another IRA, or from your employer’s qualified retirement plan, 403(a) annuity plan, 403(b) tax-sheltered annuity, or 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan to your IRA. Conversion is a term used to describe the movement of Traditional or SIMPLE IRA assets to a ▇▇▇▇ ▇▇▇. A conversion and employer-sponsored retirement plan rollover to a ▇▇▇▇ ▇▇▇ is generally a taxable event. The general rollover and conversion rules are generally summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a competent your tax advisor. 1. Traditional IRA-to-Traditional (i) SIMPLE IRA to SIMPLE IRA Rollovers. Assets Funds distributed from your Traditional SIMPLE IRA may be rolled over to the same Traditional another SIMPLE IRA or another Traditional IRA of yours if the requirements of IRC Sec. Section 408(d)(3) of the Code are met. A proper SIMPLE IRA to SIMPLE IRA rollover is completed if all or part of the distribution is rolled over no later than 60 days after the distribution is received. You may not have completed another SIMPLE IRA to SIMPLE IRA rollover from the distributing SIMPLE IRA during the 12 months preceding the date you receive the distribution. Further, you may roll the same dollars or assets only once every 12 months. (ii) SIMPLE IRA to Traditional IRA-to-IRA Rollovers. Funds may be distributed from your SIMPLE IRA and rolled over to your Traditional IRA without IRS penalty provided two years have passed since you first participated in the SIMPLE IRA plan sponsored by your employer. As with SIMPLE IRA to SIMPLE IRA rollovers, the requirements of Section 408(d)(3) of the Code must be met. A proper SIMPLE IRA to Traditional IRA rollover is completed if all or part of the distribution is rolled over not no later than 60 days after the distribution is received. In You may not have completed another SIMPLE IRA to Traditional IRA, SIMPLE IRA to SIMPLE IRA, or SIMPLE IRA to a qualified plan, a Section 403(b) tax-sheltered annuity, or a Section 457 deferred compensation plan (beginning January 1, 2002) rollover from the case distributing SIMPLE IRA during the 12 months preceding the date you receive the distribution. Further, you may roll over the same dollars or assets only once every 12 months. (iii) SIMPLE IRA to Employer Sponsored Retirement Plans. You may roll over, directly or indirectly, any eligible rollover distribution from a SIMPLE IRA to an employer’s qualified retirement plan, a Section 403(b) tax-sheltered annuity, or a Section 457 deferred compensation plan provided two years have passed since you first participated in a SIMPLE IRA plan sponsored by your employer. An eligible rollover distribution is defined as any taxable distribution from a SIMPLE IRA that is not a part of a required minimum distribution. (iv) SIMPLE IRA to ▇▇▇▇ ▇▇▇ Conversions. If your modified adjusted gross income is not more than $100,000 and you are not married filing a separate income tax return, you are eligible to convert all or any portion of your existing SIMPLE IRA(s) into your ▇▇▇▇ ▇▇▇(s), provided two years have passed since you first participated in a SIMPLE IRA plan sponsored by your employer. Beginning in 2010, the $100,000 MAGI limit and the married filing separate tax filing restriction will be eliminated for conversion eligibility. If you are age 70½ or older you must remove your required minimum distribution prior to converting your SIMPLE IRA. The amount of the conversion from your SIMPLE IRA to your ▇▇▇▇ ▇▇▇ shall be treated as a distribution for a first-time homebuyer where there was a delay or cancellation of income tax purposes, and is includible in your gross income. Although the purchaseconversion amount is generally included in income, the 60-day rollover period may be extended 10% early distribution penalty shall not apply to 120 days. Effective for distributions taken on or after January 1, 2015, you are permitted conversions from a SIMPLE IRA to roll over only one distribution from an IRA (Traditional, a ▇▇▇▇ ▇▇▇, or SIMPLE) in a 12-month period, regardless of the number of IRAs whether you own. A distribution may be rolled over qualify for any exceptions to the same IRA or to another IRA that is eligible to receive the rollover. For more information on rollover limitations, you may wish to obtain IRS Publication 590, Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇10% penalty.▇▇▇.▇▇▇.

Rollovers and Conversions. Your IRA may be rolled over to an another IRA of yours, or may receive rollover contributions. Your Traditional IRA , or SIMPLE IRA may be converted to a ▇▇▇▇ ▇▇▇, provided that all of the applicable rollover and conversion rules are followed. Rollover is a term used to describe a movement of cash or other property to your IRA from another IRA, or from your employer’s qualified retirement plan, 403(a) annuity planannuity, 403(b) tax-sheltered annuity, or 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan Plan. The amount rolled over is not subject to your IRAtaxation or the additional 10 percent early distribution penalty tax. Conversion is a term used to describe the movement of Traditional or SIMPLE IRA assets to a ▇▇▇▇ ▇▇▇. A conversion and employer-sponsored retirement plan rollover to a ▇▇▇▇ ▇▇▇ generally is generally a taxable event. The general rollover and conversion rules are summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a competent tax advisor. 1. Traditional IRA-to-IRA to Traditional IRA Rollovers. Assets distributed from your Traditional IRA may be rolled over to the same Traditional IRA or another Traditional IRA of yours if the requirements of IRC Sec. 408(d)(3) are met. A proper Traditional IRA-to-Traditional IRA IRA‐to‐IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. In the case of a distribution for a first-time first‐time homebuyer where there was a delay or cancellation of the purchase, the 60-day 60‐day rollover period may be extended to 120 days. Effective for distributions taken on or after January 1, 2015, you are permitted to roll over only one distribution from an IRA (Traditional, ▇▇▇▇, or SIMPLE) in a 12-month 12‐month period, regardless of the number of IRAs you own. A distribution may be rolled over to the same IRA or to another IRA that is eligible to receive the rollover. For more information on rollover limitations, you may wish to obtain IRS Publication 590, Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇. 2. SIMPLE IRA to Traditional IRA Rollovers. Assets distributed from your SIMPLE IRA may be rolled over to your Traditional IRA without IRS penalty tax provided two years have passed since you first participated in a SIMPLE IRA plan sponsored by your employer. As with Traditional IRA to Traditional IRA rollovers, the requirements of IRC Sec. 408(d)(3) must be met. A proper SIMPLE IRA to IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. Effective for distributions taken on or after January 1, 2015, you are permitted to roll over only one distribution from an IRA (Traditional, ▇▇▇▇, or SIMPLE) in a 12‐month period, regardless of the number of IRAs you own. A distribution may be rolled over to the same IRA or to another IRA that is eligible to receive the rollover. For more information on rollover limitations, you may wish to obtain IRS Publication 590, Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇. 3. Employer-Sponsored Retirement Plan to Traditional IRA Rollovers. You may roll over, directly or indirectly, any eligible rollover distribution from an eligible employer- sponsored retirement plan. An eligible rollover distribution is defined generally as any distribution from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, 457(b) eligible governmental deferred compensation plan (other than distributions to nonspouse beneficiaries), or federal Thrift Savings Plan unless it is part of a certain series of substantially equal periodic payments, a required minimum distribution, a hardship distribution, or a distribution of ▇▇▇▇ elective deferrals from a 401(k), 403(b), governmental 457(b), or federal Thrift Savings Plan. If you elect to receive your rollover distribution prior to placing it in an IRA, thereby conducting an indirect rollover, your plan administrator generally will be required to withhold 20 percent of your distribution as a payment of income taxes. When completing the rollover, you may make up out of pocket the amount withheld, and roll over the full amount distributed from your employer-sponsored retirement plan. To qualify as a rollover, your eligible rollover distribution must be rolled over to your IRA not later than 60 days after you receive the distribution. Alternatively, you may claim the withheld amount as income, and pay the applicable income tax, and if you are under age 59½, the 10 percent early distribution penalty tax (unless an exception to the penalty applies). As an alternative to the indirect rollover, your employer generally must give you the option to directly roll over your employer-sponsored retirement plan balance to an IRA. If you elect the direct rollover option, your eligible rollover distribution will be paid directly to the IRA (or other eligible employer- sponsored retirement plan) that you designate. The 20 percent withholding requirements do not apply to direct rollovers.

Rollovers and Conversions. Your IRA may be rolled over to another IRA, SIMPLE IRA, or an IRA eligible employer-sponsored retirement plan of yours, or may receive rollover contributions. Your Traditional IRA , or SIMPLE IRA may be converted to a ▇▇▇▇ ▇▇▇, provided that all of the applicable rollover and conversion rules are followed. Rollover is a term used to describe a movement of cash or other property to your IRA from another IRA, or from your employer’s qualified retirement plan, 403(a) annuity planannuity, 403(b) tax-sheltered annuity, or 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan Plan. The amount rolled over is not subject to your IRAtaxation or the additional 10 percent early distribution penalty tax. Conversion is a term used to describe the movement of Traditional or SIMPLE IRA assets to a ▇▇▇▇ ▇▇▇. A conversion and employer-sponsored retirement plan rollover to a ▇▇▇▇ ▇▇▇ generally is generally a taxable event. The general rollover and conversion rules are summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a competent tax advisor. 1. Traditional IRA-to-Traditional IRA Rollovers. Assets distributed from your Traditional IRA may be rolled over to the same Traditional IRA or another Traditional IRA of yours if the requirements of IRC Sec. 408(d)(3) are met. A proper Traditional IRA-to-Traditional IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. In the case of a distribution for a first-time homebuyer where there was a delay or cancellation of the purchase, the 60-day rollover period may be extended to 120 days. Effective for distributions taken on or after January 1, 2015, you are permitted to roll over only one distribution from an IRA (Traditional, ▇▇▇▇, or SIMPLE) in a 12-month period, regardless of the number of IRAs you own. A distribution may be rolled over to the same IRA or to another IRA that is eligible to receive the rollover. For more information on rollover limitations, you may wish to obtain IRS Publication 590, Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Rollovers and Conversions. Your IRA may be rolled over to another IRA, SIMPLE IRA, or an IRA eligible employer-sponsored retirement plan of yours, or may receive rollover contributions. Your Traditional IRA , or SIMPLE IRA may be converted to a ▇▇▇▇ ▇▇▇, provided that all of the applicable rollover and conversion rules are followed. Rollover is a term used to describe a movement of cash or other property to your IRA from another IRA, or from your employer’s qualified retirement plan, 403(a) annuity planannuity, 403(b) tax-sheltered annuity, or 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan Plan. The amount rolled over is not subject to your IRAtaxation or the additional 10 percent early distribution penalty tax. Conversion is a term used to describe the movement of Traditional or SIMPLE IRA assets to a ▇▇▇▇ ▇▇▇. A conversion and employer-sponsored retirement plan rollover to a ▇▇▇▇ ▇▇▇ generally is generally a taxable event. The general rollover and conversion rules are summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a competent tax advisor. 1. Traditional IRA-to-Traditional IRA Rollovers. Assets distributed from your Traditional IRA may be rolled over to the same Traditional IRA or another Traditional IRA of yours if the requirements of IRC Sec. 408(d)(3) are met. A proper Traditional IRA-to-Traditional IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. In the case of a distribution for a first-time homebuyer where there was a delay or cancellation of the purchase, the 60-day rollover period may be extended to 120 days. Effective for distributions taken on or after January 1, 2015, you You are permitted to roll over only one distribution from an IRA (Traditional, ▇▇▇▇, or SIMPLE) in a 12-month period, regardless of the number of IRAs you own. A distribution may be rolled over to the same IRA or to another IRA that is eligible to receive the rollover. For more information on rollover limitations, you may wish to obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Rollovers and Conversions. Your IRA may be rolled over to another IRA, SIMPLE IRA, or an IRA eligible employer-sponsored retirement plan of yours, or may receive rollover contributions. Your Traditional IRA , or SIMPLE IRA may be converted to a ▇▇▇▇ ▇▇▇, provided that all of the applicable rollover and conversion rules are followed. Rollover is a term used to describe a movement of cash or other property to your IRA from another IRA, or from your employer’s qualified retirement plan, 403(a) annuity planannuity, 403(b) tax-sheltered annuity, or 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan Plan. The amount rolled over is not subject to your IRAtaxation or the additional 10 percent early distribution penalty tax. Conversion is a term used to describe the movement of Traditional or SIMPLE IRA assets to a ▇▇▇▇ ▇▇▇. A conversion and employer-sponsored retirement plan rollover to a ▇▇▇▇ ▇▇▇ generally is generally a taxable event. The general rollover and conversion rules are summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a competent tax advisor. 1. Traditional IRA-to-Traditional IRA Rollovers. Assets distributed from your Traditional IRA may be rolled over to the same Traditional IRA or another Traditional IRA of yours if the requirements of IRC Sec. 408(d)(3) are met. A proper Traditional IRA-to-Traditional IRA to IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. In the case of a distribution for a first-first time homebuyer where there was a delay or cancellation of the purchase, the 60-60 day rollover period may be extended to 120 days. Effective for distributions taken on or after January 1, 2015, you You are permitted to roll over only one distribution from an IRA (Traditional, ▇▇▇▇, or SIMPLE) in a 12-12 month period, regardless of the number of IRAs you own. A distribution may be rolled over to the same IRA or to another IRA that is eligible to receive the rollover. For more information on rollover limitations, you may wish to obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

Rollovers and Conversions. Your IRA may be rolled over to an another IRA of yours, or may receive rollover contributions. Your Traditional IRA , or SIMPLE IRA may be converted to a ▇▇▇▇ ▇▇▇, provided that all of the applicable rollover and conversion rules are followed. Rollover is a term used to describe a movement of cash or other property to your IRA from another IRA, or from your employer’s qualified retirement plan, 403(a) annuity planannuity, 403(b) tax-sheltered annuity, or 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan Plan. The amount rolled over is not subject to your IRAtaxation or the additional 10 percent early distribution penalty tax. Conversion is a term used to describe the movement of Traditional or SIMPLE IRA assets to a ▇▇▇▇ ▇▇▇. A conversion and employer-sponsored retirement plan rollover to a ▇▇▇▇ ▇▇▇ generally is generally a taxable event. The general rollover and conversion rules are summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a competent tax advisor. 1. Traditional IRA-to-IRA to Traditional IRA Rollovers. Assets distributed from your Traditional IRA may be rolled over to the same Traditional IRA or another Traditional an IRA of yours if the requirements of IRC Sec. 408(d)(3) are met. A proper Traditional IRA-to-Traditional IRA to IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. You may not have completed another IRA to IRA rollover from the distributing IRA dur- ing the 12 months preceding the date you receive the distribution. Further, you may roll over the same dollars or assets only once every 12 months. In the case of a distribution for a first-time homebuyer where there was a delay or cancellation cancel- lation of the purchase, the 60-day rollover period may be extended to 120 days. 2. Effective for distributions taken on or after January 1, 2015, you are permitted SIMPLE IRA to roll over only one distribution Traditional IRA Rollovers. Assets distributed from an your SIMPLE IRA (Traditional, ▇▇▇▇, or SIMPLE) in a 12-month period, regardless of the number of IRAs you own. A distribution may be rolled over to your Traditional IRA without IRS penalty tax provided two years have passed since you first participated in a SIMPLE IRA plan sponsored by your employer. As with Traditional IRA to Traditional IRA rollovers, the same require- ments of IRC Sec. 408(d)(3) must be met. A proper SIMPLE IRA to IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received. You may not have completed another SIMPLE IRA to another IRA that is eligible (or SIMPLE IRA to SIMPLE IRA) rollover from the distributing SIMPLE IRA dur- ing the 12 months preceding the date you receive the rolloverdistribution. For more information on rollover limitationsFurther, you may wish roll over the same dollars or assets only once every 12 months. 3. Employer-Sponsored Retirement Plan to obtain IRS Publication 590Traditional IRA Rollovers. You may roll over, Individual Retirement Arrangements directly or indirectly, any eligible rollover distribution from an eligible employer-sponsored retirement plan. An eligible rollover distri- bution is defined generally as any distribution from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, 457(b) eligible govern- mental deferred compensation plan (IRAsother than distributions to nonspouse beneficiaries), from the IRS or refer to the IRS website at federal Thrift Savings Plan unless it is part of a certain se- ▇▇▇.▇ of substantially equal periodic payments, a required minimum distribu- tion, a hardship distribution, or a distribution of ▇▇▇▇ elective deferrals from a 401(k), 403(b), governmental 457(b), or federal Thrift Savings Plan.▇▇▇.