class action settlement on IRA usses
A court settlement with an IRA custodian resulted in a moneytary settlement… May this amount be restored or Rolled back into the IRA that created the issue? Any cases I could read on similar items?
A court settlement with an IRA custodian resulted in a moneytary settlement… May this amount be restored or Rolled back into the IRA that created the issue? Any cases I could read on similar items?
Permalink Submitted by Bruce Steiner on Tue, 2011-07-19 17:01
You could read my article on this subject in the June 2010 issue of Trusts & Estates. If you’ll remind me, I’ll post a link to it in August.
Permalink Submitted by Alan Spross on Tue, 2011-07-19 18:01
You should be allowed to transfer the check back into the IRA. It should be a non reportable transaction, ie no 1099R or 5498 issued.
Additional information:
http://www.retirementdictionary.com/definitions/restorativepayment