By Sarah Brenner, JD
Director of Retirement Education


I have a very simple ROTH IRA question. I borrowed money from my ROTH IRA with the intention of paying it all back in 60 days.

To avoid any penalty, must I make one repayment of all the money I borrowed? Or, can my repayment be made in two parts, all within the sixty days?

Thank you,



Hi Paul,

It sounds like you might be concerned about the once-per-year rollover rule. That rule says that you can only roll over one IRA distribution in a 365-day period. However, there are no restriction on the number of rollover deposits. So, if you took funds from your Roth IRA in one distribution, you may roll over this distribution in as many rollover deposits as you like – as long as you do so by the 60-day deadline. Keep in mind that this must be the only distribution you roll over between IRAs within 365 days for it to be allowed.



Am I allowed to convert my inherited traditional IRA to a Roth IRA?

Thank you.



An inherited traditional IRA cannot be converted to a Roth IRA. The tax code does not allow for this. It is kind of a strange restriction, because an inherited employer plan, like a 401(k), can be converted to a Roth IRA. Nonspouse plan beneficiaries are able to convert, but nonspouse IRA beneficiaries are out of luck. It does not seem consistent, but that is how the rules work.