IRA Rollover Meaning & Definition

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Definition of IRA Rollover

The temporary distribution of assets from an IRA and the subsequent reinvestment of the assets into another IRA within 60 days. An investor may roll over their IRA only once per year and is subject to a 10% penalty and ordinary income taxes if they are under 591/2 and if the assets are not deposited in another qualified account within 60 days.