In regard to contributing past the deadline, according to my trustee it can take up to three days to transfer funds electronically from a source and I wonder if the IRS would take that into account. The transfer having been recorded as contributed (settled) on April 16th per a statement, it would have to have been initiated earlier, say between Friday April 12th and Monday April 15th. Funding sent by a check mailed and postmarked up to April 15th would be accepted even if received/settled/contributed by the trustee after the contribution deadline. Would the same apply to the three day electronic transfer delay?
If so, I would only owe a $390 excise tax for 2012 on the excess $6,500 which would then have been absorbed in 2013. |
‎April 6, 2022
11:37 AM
