401K rollover accidentally ro Roth IRA
What is the best way to correct a person who mistakenly rolled their pretax 401k into their Roth IRA? Their intention was to put it in their Traditional IRA, but wrote the wrong account number. Any help is greatly appreciated.
Permalink Submitted by Alan - IRA critic on Thu, 2018-06-21 17:22
What is the exact date of this rollover? Hopefully, prior to 2018 since recharacterization was an easy fix. However, starting this year rollovers done in 2018 cannot be recharacterized, so there is no solution within your control. You could plead with the custodian to re do the contribution to your TIRA since you evidently have a TIRA with the same custodian, but this is very much a long shot when the error was 100% yours. Is this a significant amount for which you cannot pay the tax bill?