When is the 60-day IRA rollover requirement waived?
You qualify for an automatic waiver of the 60-day rollover requirement if all of the following apply.
- The financial institution receives the funds on your behalf before the end of the 60-day rollover period.
- You followed all the procedures set by the financial institution for depositing the funds, including giving instructions to deposit the funds into an eligible retirement plan.
- The funds aren’t deposited into an eligible retirement plan within the 60-day rollover period solely because of an error on the part of the financial institution.
- The funds are deposited into an eligible retirement plan within 1 year from the beginning of the 60-day rollover period.
- It would have been a valid rollover if the financial institution had deposited the funds as instructed.
If you don't qualify for the automatic waiver, you can go to Retirement Plans FAQs relating to Waivers of the 60-Day Rollover Requirement for additional options.