Discussion:How to apply for extension to 60 day IRA rollover limitation
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| Revision as of 21:31, 26 March 2009 David1980 (Talk | contribs) (There's an autom) ← Previous diff |
Current revision Mtmckeecpa (Talk | contribs) (Fa, You need to) |
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| {{ForumReplyPost|UserID=David1980|Date=26 March 2009|Text=There's an automatic waiver if they meet certain requirements which, as you guessed, is automatic. If they don't qualify for the automatic waiver they can apply for one. You apply in the same way as for a letter ruling. It really isn't an "extension" but rather a waiver. Extension tends to be something you apply for before the due date, while a waiver applies after you missed it. If they haven't passed the due date they can still make the rollover contribution, so what they want is a waiver. Good luck...}} | {{ForumReplyPost|UserID=David1980|Date=26 March 2009|Text=There's an automatic waiver if they meet certain requirements which, as you guessed, is automatic. If they don't qualify for the automatic waiver they can apply for one. You apply in the same way as for a letter ruling. It really isn't an "extension" but rather a waiver. Extension tends to be something you apply for before the due date, while a waiver applies after you missed it. If they haven't passed the due date they can still make the rollover contribution, so what they want is a waiver. Good luck...}} | ||
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| + | {{ForumReplyPost|UserID=Mtmckeecpa|Date=26 March 2009|Text=Fa, | ||
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| + | You need to find out '''WHY'' they missed the rollover period, if beyond reasonable control, such as: casualty, disaster, financial institution error, etc.. then they might have a shot at waiving the penalty, otherwise, who knows.}} | ||
Current revision
Discussion Forum Index --> Advanced Tax Questions --> How to apply for extension to 60 day IRA rollover limitation
Discussion Forum Index --> Tax Questions --> How to apply for extension to 60 day IRA rollover limitation
| 26 March 2009 | |
| If anyone has had any experience in successfully applying for an extension to 60 day rollover requirement from one IRA to another IRA, please advise. Thank you | |
| 26 March 2009 | |
| There's an automatic waiver if they meet certain requirements which, as you guessed, is automatic. If they don't qualify for the automatic waiver they can apply for one. You apply in the same way as for a letter ruling. It really isn't an "extension" but rather a waiver. Extension tends to be something you apply for before the due date, while a waiver applies after you missed it. If they haven't passed the due date they can still make the rollover contribution, so what they want is a waiver. Good luck... | |
Mtmckeecpa (talk|edits) said: | 26 March 2009 |
| Fa,
You need to find out 'WHY they missed the rollover period, if beyond reasonable control, such as: casualty, disaster, financial institution error, etc.. then they might have a shot at waiving the penalty, otherwise, who knows. | |
