If you didn't rollover your IRA distribution to a qualified account within the 60-day period, you'll be taxed on the distribution, and if you 're younger than 59 1/2, you'll have to pay the 10% early withdrawal penalty.
However, you can make a late rollover contribution – rollover after the expiration of the 60-day period - if you:
- Are entitled to an automatic waiver of the 60-day rollover requirement,
- Request and receive a private letter ruling waiving the 60-day requirement,
- Qualify for and use the self-certification procedure for a waiver of the 60-day requirement.
Please read this IRS FAQ for the details and conditions of the waivers.
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