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Made an error when my employer cut me a check for my 401k when I resigned

I think I know the answer, but I wanted confirmation that I essentially shot myself in the foot when I deposited the 401k disbursement check of $70 into my checking account without realizing that I needed to send that check to my IRA.  I did not realize this until I got my 1099R.  Is there anything that I can do at this point to avoid the tax penalty?  It was an honest mistake, but I understand that it was my responsibility.

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1 Reply
ColeenD3
Expert Alumni

Made an error when my employer cut me a check for my 401k when I resigned

No, you had 60 days to roll the funds over. At least it was only $70.

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