Remember—the IRS will allow an IRA owner to make only one IRA rollover in any 12-month period, regardless of the number of IRAs owned. Before 2015, an IRA owner was permitted one rollover per 12-month period for each IRA.
If you had five different IRAs, you could complete one rollover for each of them, as long as you had not already rolled those same funds over in the previous 12 months. (5 IRAs=5 rollovers per 12 months)
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. (5 IRAs=1 rollover per 12 months)
When consolidating your IRA funds, plan accordingly. The rule does not affect your ability to transfer funds from one IRA trustee directly to another, as this transfer is not considered a rollover. There are no changes on the number of conversions from Traditional to Roth IRAs.
For more information, visit IRS.gov and refer to: Announcement 2014-15 and 2014-32.