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Hi and welcome to Just Answer!If you requested distribution from IRA account - that amount is included into your taxable income. You may however - put the distributed amount into different IRA account - that will be considered a rollover and will not be taxable - if the money are deposited into another IRA account within 60 days after distribution.There is no requirements for the bank to correct overpayment - however if overpayment occurred not because of your request but because of bank's mistake - you may request compensation for damages resulted by that mistake. For instance - additional tax liability due to higher tax bracket would be clear your damages.
If the bank refuses to compensate your damages - you may sue the bank as long as that is bank's fault..
Thank you for your answer. I will continue to talk with the bank. I am satisfied with the $30.00 fee. In fact it has been a relief to get your input.
Thank you for your answer. I will continue to talk with the bank. I am satisfied with the $30.00 fee -- in fact it has been a relief to talk with you.
You are very welcome.Please update me with outcome.
Dear Lev -- from [email protected] -- the bank has adjusted the IRA distributions. Thank you again.