Thanks again for the response. I am doing my parents' tax return and it was my dad who took the check to the local bank and deposited it into the checking account. Completely honest mistake on his part. The company he worked for changed 401(k) companies and the check was from Ascensus (prior 401(k) company) to Capital Bank & Trust fbo/my dad. Coded as a rollover by Ascensus on the 1099-R for obvious reasons. He received the check in the mail and proceeded to deposit it. Shame on the bank - I will be calling Ascensus, Capital Bank & Trust, and the bank on Monday morning. I hope, as you mention, the bank can complete the transaction as it was originally intended. Otherwise, I will attempt to get the 1099-R corrected by Ascensus. Doesn't help that this all happened over a year ago now :(
