What New IRS Rules Mean for Your Retirement Account

US News and World Report reports:

Sometimes, a loophole is too tempting.

A few folks thought they could use their individual retirement accounts for short-term loans to themselves. The Internal Revenue Service was not amused. Starting in 2015, new rules apply for withdrawing money from an IRA with the aim of rolling it into another IRA investment, taking possession of the funds yourself in the process.

The short version of the new rule is that you can only roll over an account this way once every 365 days, investment advisors say. But the longer version is: Don't even try to skirt this rule.

Just a reminder.