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"The IRS may waive the 60-day rollover requirement in certain situations if you missed the deadline because of circumstances beyond your control."
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Retirement Plans FAQs relating to Waivers of the 60-Day Rollover Requirement
These frequently asked questions and answers provide general information and should not be cited as legal authority. Because these answers do not apply to every situation, yours may require additional research.
There are many requirements to make a valid rollover contribution including the 60-day requirement. Assuming other requirements are satisfied, you have 60 days from the date you receive a distribution from an IRA or retirement plan to roll it over to another plan or IRA. If you don’t roll over your payment, it will be taxable (other than qualified Roth distributions and any amounts already taxed) and you may also be subject to additional tax unless you’re eligible for one of the exceptions to the 10% additional tax on early distributions. The IRS may waive the 60-day rollover requirement in certain situations if you missed the deadline because of circumstances beyond your control. These frequently asked questions address when the 60-day rollover requirement may be waived.
1. Can I make a late (after the expiration of the 60-day period) rollover contribution to my retirement plan or IRA?
Yes, you can make a late rollover contribution – rollover after the expiration of the 60-day period - if you:
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2. How do I obtain a waiver of the 60-day rollover requirement?
There are three ways to obtain a waiver of the 60-day rollover requirement: