Need to roll over your IRA or retirement plan but missed the 60-day time limit?
The IRS has designed a new procedure to help people with IRA or retirement plan rollovers after they’ve missed their 60-day window. According to this new self-certification procedure you may qualify for a waiver of the 60-day time limit if:
– Your distribution check was lost and never cashed,
– Your home was severely damaged,
– You had a death in the family,
– You or a family member were seriously ill.
Additional circumstances may qualify, for example, if the taxpayer was incarcerated. Learn more about this topic here.
Looking for a robust and cost-effective 401K and retirement solutions for your business? Visit AAP’s benefits page and see how we can help.
Links of Interest:
New Procedure Helps People Making IRA and Retirement Plan Rollovers
Revenue Procedure 2016-47 (PDF)
Human Capital Management (HCM) Solutions for Businesses
401K and Retirement for Businesses