60-day rollover: postmarked, received or invested?

Submitted by Kyle Bigler on Thu, 2012-07-12 17:27

Is it sufficient for a rollover check to be postmarked by the 60th day, or must the funds be reinvested in the IRA by the 60th day in order to qualify as a tax-free rollover?

I assume the latter, but hope for the former. 🙂

Thanks so much…greatly appreciated!
Kyle



Submitted by Alan Spross on Thu, 2012-07-12 18:28

Received date applies both to your receiving the first distribution and the IRA custodian receiving the rollover. I wouldn’t anticipate a problem here unless you are rolling back funds to the original custodian and the custodian refuses to accept it. Almost all 60 day rollover limits are enforced at the custodian level.

But if it came down to an audit, the received date determines.



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