@Opus 17 wrote:
@macuser_22 wrote:
@Opus 17 wrote:
@macuser_22
How can it be a direct rollover if the taxpayer has a physical check in hand?
The check is made out to the retirement account custodian, not the poster. Many, if not most, direct code G rollover are done this way. The 401(K) does not do an electronic transfer to the rollover account, then issue a check made lout to that account.
OK. Even so, the "lost check" route may still be a way for the taxpayer to self-certify a waiver to the 60 day rule.
The 60 day rule simply does not apply for a direct rollover (which is technically a transfer and not rollover even though code G calls it a rollover). No need for a waiver since is is not a 60 day rollover in the first place.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
