60 day rollover
when does 60 day rollover start? holidsays count. despite our warnings and guidance i believe client received IRA distribution into her account on 4/11, processed by investment company on 4/10. she will be bringing a check today to remote deposit.
Any thoughts or guidance on feasibility.. how strict it is, etc?
Permalink Submitted by Alan - IRA critic on Fri, 2024-06-07 14:32
The 60 days starts on the day after the date client received the distribution. The IRA custodian must therefore receive the rollover contribution by 6/10. This deadline is typically managed by the IRA custodians, some more than others. Of course, only one such 60 day rollover for all IRAs is allowed in a 12 month period.