Rollover Rules
Hello,
When a person takes a distribution from their IRA (or Roth IRA), and puts the money back well-within their 60 day window, when does the 12 month clock start? Will it start from the date the funds are received by the account holder or the date that the funds are received back into the IRA?
Permalink Submitted by Alan - IRA critic on Tue, 2018-10-23 19:56
The 12 month clock starts on the day that the distribution is received and ends on the day the rollover contribution is received. Because these dates often cannot be clearly documented it is best to go by the dates the IRA statements show for these transactions which provide clear documentation. But technically, due to mailing or processing times, the actual period could be a couple days longer than these statement dates.