Broker error Roth contribution missed
The clients completed all necessary paperwork for a Roth contribution, for 2013. It was to be funded via moving cash, from their joint account, into their Roth account, with the same firm.
The broker’s staff did not process the transfer. The clients did not find out, until after the deadline.
Can this be corrected?
Permalink Submitted by Alan - IRA critic on Tue, 2014-05-27 20:20
Only if the broker accepts responsibility and makes the contribution retroactive, and then issues a 5498 reporting a 2013 Roth contribution, The 5498 deadline requires mailing by the end of this week.