Make the contributions in cash. Rollover IRAs 9. Some distributions are ineligible for rollover. A rollover IRA can also be a conduit between employer-sponsored plans as long as no other monies are added to the account. Roth IRAs 11.
Married couples filing separately are ineligible.
There is no limit on the number of years contributions may be made since these are after-tax dollars. Qualified distributions incur no federal income tax. Distributions for higher education are penalty free, but not tax-free. The five year clock begins January 1 of the year for which the first contribution is made. It is not necessary to track each contribution for five years.