401k Rollover Check Deposited to Checking
Individual requested a direct rollover from his 401k, and received a check payable to the custodian FBO the individual. Check is deposited into a taxable checking account and the check was not rejected by the receiving bank. Can the individual do an indirect rollover of the funds into their IRA?
Permalink Submitted by Alan - IRA critic on Fri, 2025-03-07 15:36
Yes, if within the 60 day rollover period, a rollover contribution can be made to the type of IRA intended consistent with how the 1099R will be issued. If the 60 days has expired, the self certification process can be used as well if the IRA custodian will cooperate and accept the form.