recharacterization extension (active military)

Submitted by ShipsnGiggles on Mon, 2013-10-28 14:59

Good Morning –

Does an individual on active miliatry duty (Japan)eligible for a 2012 recharacterization extension? I thought the final date was tax filing plus extension (i.e. 10/15/2013).

Am I missing something?

Thank you



Submitted by ShipsnGiggles on Wed, 2013-10-30 20:15

All – I am unable to locate anything regarding an extension due to be active in the military. Can anyone confirm? Thank you

Submitted by Alan - IRA critic on Wed, 2013-10-30 22:00

  • From what I can tell, there is no additional time to recharacterize for military unless in a combat zone or when assigned to certain hazardous duty. Since those service people have a due date of 180 days after the 4/15 date, the recharacterization deadline should be another 6 months later than the due date or around the following 4/15. See here:  http://www.military.com/money/personal-finance/taxes/filing-your-taxes-overview.html
  • Of course, the IRA custodian must also concur in order to process a corrective distribution or recharacterization after 10/15 and to code the 1099R as such. It’s possible that various custodians may not agree or be aware of any additional time beyond 10/15.
  • I have not been able to locate any specific guidance that specifically mentions recharacterizations of IRA contributions in terms of additional time. IRS Pub 3 is not clear on this issue. Therefore, don’t take this interpretation as true confirmation.

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