Indirect Rollover past 60 Days

Submitted by carlos mendez on Mon, 2020-09-14 21:40

Can a person still make an Indirect Rollover Contribution to an IRA even if it is past the 60day window allowed by the IRS? The individual was out of the country and could not return in time due to COVID-19. He deposited the funds into his personal savings before he left the country. The check was dated 7/9/2020.



Submitted by Alan - IRA critic on Mon, 2020-09-14 23:32

  • DId the individual have no way to complete the rollover while overseas? If so, and restrictions to his doing that were imposed by a foreign country he could use Notice 2016-47 to extend the 60 days. There is no other Covid related relief that applies here.  Link to the Notice below:
  • https://www.irs.gov/pub/irs-drop/rp-16-47.pdf

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