60 Day Rollover

Submitted by Denise Sowell on Fri, 2023-10-13 11:55

I have a couple of questions about the 60 Day Rollover Rule.

If the client had the funds ACH’d to their bank account and did not see the funds for 2 days, does the clock start when they see the funds in their bank account ?

Also, if the 60th day lands on a weekend, will the IRS give the client until Monday or the next business day to deposit the amount they withdrew back into their IRA?

Thank you in advance for clarifying these requirements.



Submitted by Alan - IRA critic on Fri, 2023-10-13 16:02

  • The clock starts the day after they received the funds and ends on the 60th day counting all weekend and holidays. Client had constructive receipt of the funds the day they were deposited into the checking account, so day 1 of the 60 is the following day. Typically, the receiving IRA custodian if also the distributing custodian should not accept a rollover after 60 days unless the client qualifies for an exemption per Rev Procedure 2020-46 per link below:
  • Microsoft Word – rp-20-46.docx (benefitslink.com)


Submitted by Denise Sowell on Fri, 2023-10-13 16:19

Thank you for your clarification. The Custodian would not give me any of these details. 



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