Winter 2015 2015 Annual Membership Meeting

Personal, Friendly Service
The 43rd Annual Membership Meeting of Domino Federal Credit Union will be held on Friday, March 27,
2015, at the Mattie Lanier Richey Center located 101 Sportsplex Drive, Atlanta, TX, 75551.
The business meeting will begin at 6:30 p.m. (doors open at 6:00 p.m.). During the brief meeting, reports
will be received and a vote taken for two positions on the Board of Directors. The terms of Stan Roberson
and Shirley Green will expire at this meeting.
There will be give-a-ways, refreshments and a special drawing for cash prizes. Make plans now to attend
this important and informative meeting. We look forward to seeing each of you there!
The following two people have been nominated by the Nominating Committee to fill the two expiring terms
of the Board of Directors. There will be no nominations accepted from the floor according to the By-Laws
of the Credit Union if there is at least one nominee for each of the two positions being voted on. Election
will be by ballot and will be conducted at the 2015 Annual Membership Meeting.
 Shirley Green has been a credit union member for 50 plus years and a member of Domino Federal
Credit Union since 1977. She presently serves on the DFCU Board of Directors since 2007 and served as
Chairman of the Supervisory Committee for over 25 years. Shirley is retired from International Paper
Company and currently works three days a week at Hospice of Texarkana/Hope. She resides in
Texarkana, Tx.
 Stan Roberson has been a member of Domino Federal Credit Union for 28 years. Stan has served on
the DFCU Board of Directors since 1988 and currently holds the office of Vice Chairman of the Board
and has previously served as Chairman of the Board. He has been employed with International Paper
Company since 1981. He resides in Texarkana, Tx.
Martin Luther King. Jr.
Monday, January 19th
Presidents Day
February Monday, 16th
(903) 796-7909
Fax: (903) 796-9901
Monday – Friday
8:30 a.m.– 4:30 p.m.
2208 Kennedy Lane
(903) 792-8651
Fax: (903) 792-2684
Monday – Friday
8:30 a.m. – 5:00 p.m.
Drive Thru
Monday – Friday
8:00 a.m. – 5:30 p.m.
901 W. Main
(903) 796-0004
Fax: (903) 796-0640
Monday – Friday
8:30 a.m. – 5:00 p.m.
Drive Thru
Monday – Friday
8:00 a.m. – 5:30 p.m.
4702 S. Lake Drive
(903) 832-3906
Fax: (903) 838-2689
Monday – Friday
8:30 a.m. – 5:00 p.m.
Drive Thru
Monday – Friday
8:00 a.m. – 5:30 p.m.
(903) 794-RITA (7482)
Leonard Griffin, Chairman
Stan Roberson, Vice-Chairman
Shirley Green, Secretary/Treasurer
Troy Ashmore
David Cothren
Roger Matlock
John Jackson
Jim Turchi - Chairman
David Cothren
Charles Russell
IRA One-Rollover-Per-Year Rule
Beginning in 2015, you can make only one rollover from an IRA to another (or the same)
IRA in any 12-month period, regardless of the number of IRAs you own (Announcement
2014-15 and Announcement 2014-32). The limit will apply by aggregating all of an
individual’s IRAs, including SEP and SIMPLE IRAs as well as traditional and Roth IRAs,
effectively treating them as one IRA for purposes of the limit.
•Trustee-to-trustee transfers between IRAs are not limited
•Rollovers from traditional to Roth IRAs ("conversions") are not limited
Transition Rule Ignores Some 2014 Distributions
IRA distributions rolled over to another (or the same) IRA in 2014 will not prevent a 2015
distribution from being rolled over provided the 2015 distribution is from a different IRA
involved in the 2014 rollover.
Background of the One-Per-Year Rule
Under the basic rollover rule, you don’t have to include in your gross income any
amount distributed to you from an IRA if you deposit the amount into another eligible
plan (including an IRA) within 60 days (Internal Revenue Code Section 408(d)(3)).
Internal Revenue Code Section 408(d)(3)(B) limits taxpayers to one IRA-to-IRA rollover in
any 12-month period. Proposed Treasury Regulation Section 1.408-4(b)(4)(ii), published
in 1981, and IRS Publication 590, Individual Retirement Arrangements (IRAs) interpreted
this limitation as applying on an IRA-by-IRA basis, meaning a rollover from one IRA to
another would not affect a rollover involving other IRAs of the same individual.
However, the Tax Court held in 2014 that you can’t make a non-taxable rollover from
one IRA to another if you have already made a rollover from any of your IRAs in the
preceding 1-year period (Bobrow v. Commissioner, T.C. Memo. 2014-21).
Tax Consequences of the One-Rollover-Per-Year Limit
Beginning in 2015, if you receive a distribution from an IRA of previously untaxed
•you must include the amounts in gross income if you made an IRA-to-IRA rollover in the
preceding 12 months (unless the transition rule above applies), and
•you may be subject to the 10% early withdrawal tax on the amounts you include in
gross income.
Additionally, if you pay the distributed amounts into another (or the same) IRA, the
amounts may be:
•treated as an excess contribution, and
•taxed at 6% per year as long as they remain in the IRA.
Direct Transfers of IRA Money Are Not Limited
This change won’t affect your ability to transfer funds from one IRA trustee directly to
another, because this type of transfer isn’t a rollover (Revenue Ruling 78-406, 1978-2
C.B. 157). The one-rollover-per-year rule of Internal Revenue Code Section 408(d)(3)(B)
applies only to rollovers.

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