An IRA rollover involves taking money from an individual retirement account, receiving a check from your IRA custodian, and putting it into either another IRA or back into the same account. The process is tax-free if the money is deposited back within 60 days, and it’s popular to use such withdrawals as short-term personal loans, without any interest or tax consequences. But in the 2015 tax year, the IRS will only allow one such rollover every 12 months, starting from the date of the rollover. Direct transfers aren’t affected by this rule, so IRA holders can move their savings straight from account to account as many times as they like.
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