Effective January 1, 2015, an IRA owner may complete only one IRA rollover in any 12-month period regardless of how many Traditional, Roth, or SIMPLE IRAs the individual owns. The same is true for Coverdell ESAs, regardless of how many ESAs the individual owns. To explain the IRS’ new interpretation on rollovers, amending is highly recommended by Ascensus in order to provide each of your IRA and ESA owners with an updated disclosure statement.
Preparations for this change are underway. Ascensus provides an amendment mailing service, so please look for our new amendment mailing quote form on this page in December.