Past Year Contribution Deadline
As I have done in the past I mailed my past year (2023) IRA contribution on taxday, this year April 15, 2024. I mailed my IRA contribution check to Allspring. I sent by certified mail, and have the post office receipt to prove it. On April 29th Allspring returned my check saying I missed the deadline. Yet last year they they accepted my check, not cashining until April 24th.
I have been told in the past that the deadline is to have the contribution postmarked by the taxday deadline. I did this. What are my options to get this corrected. I already deducted this contribution from my taxes.
This is a real mess.
Must the IRA accept my contribution if postmarked by the April 15th taxday deadline? (they have always done so in the past)
Please advise.
Thank You
Permalink Submitted by Alan - IRA critic on Mon, 2024-05-06 15:33
The option to apply the “postmark rules” lies with the IRA custodian, not the IRS. This custodian apparently changed their criteria for this year, which is unfortunate in your case. Of course, it is also possible that new staff was unaware of the postmark rule. But now in May, the 2023 5498 forms are being processed so your chances of having them review this decision are slim. The IRS will only be guided by the 5498, and if there is no contribution shown for 2023 the IRS will probably send you a tax due Notice.