If it has been less than 60 days, you can reverse the distribution and replace the money. Contact the plan trustee and let them know you want to do this. You will not receive a 1099R and you will not pay any taxes. However, if the trustee withheld tax on the distribution, you must re-pay the entire amount even if you have to borrow it from somewhere else. You will get that withholding back in your refund when you file your tax return, but if you don’t put the entire amount back now, any remainder will be treated as a taxable distribution.
If it has been more than 60 days and this was not a coronavirus related distribution, then you cannot replace the money. The withdrawal will be fully taxable, and any money that you want to put in the IRA now will be treated as a separate transaction subject to the normal rules for IRA contributions (such as the income limits on deductible IRAs and the annual contribution maximum).
If it has been more than 60 days and you can certify that you took the distribution due to a coronavirus related hardship, then you have three years to return the money. The distribution will be reported on a form 1099R and you must include it on your income tax return. You will then be asked questions related to the CARES act and you will have the opportunity to report to the IRS that you have returned part or all of the distribution. Any part that you did not return will be taxable, but if you return the remainder of the distribution within three years, you can file an amended return to get that tax back as well.
