Roth IRA postdate?
I faxed my Roth conversion request to my broker on Dec 30th, 2021, with my signature postdated on Jan 4th, 2022. They did the conversion on the 31st, and my 1099-R now shows an extra $60000 taxable income I was scheduling for 2022. Is there anything I can do to claim the conversion date to Jan 4, 2022 since its on my request?
Permalink Submitted by Alan - IRA critic on Wed, 2022-04-06 00:54
You would have to convince the custodian to issue a corrected 1099R with all 0’s, which they are not going to do unless you can convince them that they made an error which was entirely their fault. That’s even more unlikely after they reported the transaction. Requesting any transaction at holiday heavy year end is not recommended since you have no control over the actual processing date.
Permalink Submitted by William Tuttle on Wed, 2022-04-06 12:13
For example, unless the recipient agrees to hold a post-dated check, it is not binding on them. Most financial institutions will cash a post-dated check when presented regardless of the date.
I have never heard of anyone attempting to post-date a retirement account transaction. The date on a signature is just that. Attesting to when the was signature was completed. It infers nothing with regards to the transaction date.
It is very unlikely that the IRA custodian even has a policy allowing post-dating such transactions. Even if they did, it would almost certainly require prior notice and/or authorization.