Greetings @tdonojr :
No, you have not violated any investment direction change rules. In fact, it's pretty tough to mess this up.
You are allowed two investment changes per year. There is a bit of a gray area if both the beneficiary AND account owner are the same on two different accounts, but if you have two separate accounts and two distinct owners, you're good. So you- you're good. Regardless, the plan administrator polices investment changes, and will not allow you to make more changes than are allowed.
When you rollover to a new plan you have to make new investment selections, because you need top pick something when you put the money in. This does not constitute an investment change.
The only time it becomes possible to violate the annual investment change restriction is if the following occurs:
- You have already made both your elected investment changes for the year for that owner/bene combination
- You have rolled into a new plan
- You then elect to change the investments again
So you really kinda have to work at it to violate the rule.
Brian Boswell VP, Research & Development
This information does not constitute tax advice and is provided for informational purposes only. Please consult your tax advisor, financial advisor, local taxing authority, and/or plan provider or sponsor for more information.