@vor17tex wrote:
Thanks for your reply, Robert. I didnt mention that I am no longer employed.
So specifically since this money is from only my contributions , not earnings, can I roll it back to the Roth from which I distributed it on 2/26/25. (The 60 day period ends on 4/26/25)
Any IRA withdrawal always has a 60 day rule for rollovers (to put the money in another qualifying IRA or return it to the same IRA). If you made a qualified withdrawal from a Roth IRA and you don't return it within 60 days, it is not taxable income if you keep the money. But your opportunity to put it back into an IRA for future tax-free growth is limited to the 60 day rollover rule.
However, since today is 4/25/25 and it's a Friday, it is possible that the original IRA won't be able to process the deposit in time. It might be better, as @fanfare suggested, to hand-carry the funds to a local bank and open a new Roth IRA today in person. Even if the transaction does not official clear until next week, the fact that you opened the account and gave them the money in person before the 60 days were up should cover you. Or, call the original IRA and talk to their customer support people to verify that they will record the deposit on time.
If you have missed the window, and you keep the money, you can invest it normally, and just pay tax on the interest, dividends and capital gains, per the usual rules for investment accounts. You just lose the option for tax-free gains in the Roth IRA.
