How do I apply for a waiver of the 60-day period?

If you do not qualify for an automatic waiver, you can apply to the IRS for a waiver of the 60-day rollover requirement. To apply for a waiver, you must submit a request for a letter ruling under the appropriate IRS revenue procedure. This revenue procedure is generally published in the first Internal Revenue Bulletin of the year. You must also pay a user fee with the application.

In determining whether to grant a waiver, the IRS will consider all relevant facts and circumstances, including:

Whether errors were made by the financial institution,
Whether you were unable to complete the rollover due to death, disability, hospitalization, incarceration, or postal error,
Whether you used the amount distributed, and
How much time has passed since the date of the distribution.

Please contact one of our IRA Experts at 800-472-0646 for more information.