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1040x example Publication 929 - Introductory Material Table of Contents Future Developments Reminders IntroductionOrdering forms and publications. 1040x example Tax questions. 1040x example Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 929, such as legislation enacted after this publication was published, go to www. 1040x example irs. 1040x example gov/pub929. 1040x example Reminders Social security number (SSN). 1040x example  Dependents who are required to file a tax return must have an SSN. 1040x example To apply for an SSN, file Form SS-5 with the Social Security Administration. 1040x example You can go to the website www. 1040x example socialsecurity. 1040x example gov for more information. 1040x example Individual taxpayer identification number (ITIN). 1040x example  The IRS will issue an ITIN to a nonresident or resident alien who does not have and is not eligible to get an SSN. 1040x example To apply for an ITIN, file Form W-7, Application for IRS Individual Taxpayer Identification Number, with the IRS. 1040x example It takes 6-10 weeks to get an ITIN. 1040x example The ITIN is entered wherever an SSN is requested on a tax return. 1040x example If you are a nonresident alien applying for an ITIN to file a tax return, you generally must attach your original, completed return to Form W-7 to get an ITIN. 1040x example See the Form W-7 instructions for more information. 1040x example An ITIN is for tax use only. 1040x example It does not entitle you to social security benefits or change your employment or immigration status under U. 1040x example S. 1040x example law. 1040x example Effective January 1, 2013, ITINs will expire after 5 years. 1040x example Taxpayers who still need an ITIN after the end of the expiration period must reapply for a number. 1040x example Photographs of missing children. 1040x example  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. 1040x example Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. 1040x example You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. 1040x example Introduction Part 1 of this publication explains the filing requirements and other tax information for individuals who can be claimed as a dependent on another person's tax return. 1040x example  Part 2 explains how to report and figure the tax on unearned income of certain children (whether or not they can be claimed as dependents). 1040x example Definitions. 1040x example   Many of the terms used in this publication, such as “dependent,” “earned income,” and “unearned income,” are defined in the Glossary at the back of this publication. 1040x example Comments and suggestions. 1040x example   We welcome your comments about this publication and your suggestions for future editions. 1040x example   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. 1040x example NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. 1040x example Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. 1040x example   You can send your comments from www. 1040x example irs. 1040x example gov/formspubs/. 1040x example Click on “More Information” and then on “Comment on Tax Forms and Publications. 1040x example ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. 1040x example Ordering forms and publications. 1040x example   Visit www. 1040x example irs. 1040x example gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. 1040x example Internal Revenue Service 1201 N. 1040x example Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. 1040x example   If you have a tax question, check the information available on IRS. 1040x example gov or call 1-800-829-1040. 1040x example We cannot answer tax questions sent to either of the above addresses. 1040x example Useful Items - You may want to see: Publication 501 Exemptions, Standard Deduction, and Filing Information 505 Tax Withholding and Estimated Tax 550 Investment Income and Expenses Form (and Instructions) W-4 Employee's Withholding Allowance Certificate 8615 Tax for Certain Children Who Have Unearned Income 8814 Parents' Election To Report Child's Interest and Dividends See How To Get Tax Help near the end of this publication for information about getting these publications and forms. 1040x example Prev  Up  Next   Home   More Online Publications
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IRA One-Rollover-Per-Year Rule

Beginning as early as January 1, 2015, you can make only one rollover from a traditional IRA to another (or the same) traditional IRA in any 12-month period, regardless of the number of IRAs you own (Announcement  2014-15). A similar limitation will apply to rollovers between Roth IRAs. You can, however, continue to make as many trustee-to-trustee transfers between IRAs as you want. Amounts transferred between traditional IRAs, either by rollover or trustee-to-trustee transfer, are excluded from your gross income.

Current law

You don’t have to include in your gross income any amount distributed to you from a traditional IRA if you deposit the amount into another (or the same) traditional IRA within 60 days (Internal Revenue Code Section 408(d)(3)). Under Internal Revenue Code Section 408(d)(3)(B), only one IRA-to-IRA rollover can be made in any 12-month period. Proposed Treasury Regulation Section 1.408-4(b)(4)(ii), published in 1981, and IRS Publication 590, Individual Retirement Arrangements (IRAs) interpret this limitation as applying on an IRA-by-IRA basis, meaning a rollover from one IRA to another would not affect a rollover involving other IRAs of the same individual.

U.S. Tax Court decision

The Tax Court recently held that you can’t make a non-taxable rollover from one IRA to another if you have already made a rollover from any of your IRAs in the preceding 1-year period (Bobrow v. Commissioner, T.C. Memo. 2014-21). Following the holding in this decision means:

  • you must include in gross income any previously untaxed amounts distributed from an IRA if you made an IRA-to-IRA rollover in the preceding 12 months, and
  • you may be subject to the 10% early withdrawal tax on the amount you include in gross income.

Additionally, if you pay these amounts into another (or the same) IRA, they may be:

Prospective application

The IRS intends to follow the Tax Court’s interpretation of Internal Revenue Code Section 408(d)(3)(B). However, to give IRA owners and trustees time to adjust, the IRS will delay implementation until January 1, 2015, at the earliest. Proposed Treasury Regulation Section 1.408-4(b)(4)(ii) will be withdrawn and Publication 590 will be revised to reflect the new interpretation.

Only rollovers will be affected

This change won’t affect your ability to transfer funds from one IRA trustee directly to another, because this type of transfer isn’t a rollover (Revenue Ruling 78-406, 1978-2 C.B. 157). The one-rollover-per-year rule of Internal Revenue Code Section 408(d)(3)(B) applies only to rollovers.

Additional resources

Page Last Reviewed or Updated: 26-Mar-2014

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