YES they can accept this kind of "roll over" ... you have until the due date of the return (including extensions) to put an amount equal to the code M distribution into any other IRA or 401K. Tell them that this is what you are doing so that they can apply it properly. It is an extended 60 day roll over or a direct roll over depending on how they will code it. If you cannot get this done by 5/17 then go on extension so you have the time needed to complete this transaction.
