Google Answers Logo
View Question
 
Q: IRA Rollover Waiver ( No Answer,   1 Comment )
Question  
Subject: IRA Rollover Waiver
Category: Business and Money > Accounting
Asked by: lina2-ga
List Price: $5.00
Posted: 27 Apr 2005 12:12 PDT
Expires: 27 May 2005 12:12 PDT
Question ID: 515000
I need to apply to the IRS for a waiver of the rollover period (which
is normally 60 days from the date of distribution) so that I can
replace the money without incurring either a tax liability or a
penalty. (This is a traditional IRA.)

I understand tax code sections 408(d)(3)(I) and 402(c)(3)both provide
a waiver provision.

What do I have to do to get this WAIVER?

P.S.  I am visually impaired so it takes a lot of time to wade through text.
Answer  
There is no answer at this time.

Comments  
Subject: Re: IRA Rollover Waiver
From: ssmithfl-ga on 28 Apr 2005 12:55 PDT
 
http://www.irs.gov/faqs/faq-kw155.html

"You must complete the rollover by the 60th day following the day on
which you receive the distribution. (This 60-day period is extended
for the period during which the distribution is in a frozen deposit in
a financial institution). The IRS may waive the 60 day requirement
where failure to do so would be against equity or good conscience,
such as in the event of a casualty, disaster, or other event beyond
your reasonable control. To obtain the waiver in most cases, a request
for a letter ruling must be made. A user fee of $95.00 will apply see
Revenue Procedure 2005-8 (within IRS Bulletin 2005-1) ."

Important Disclaimer: Answers and comments provided on Google Answers are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Google does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. Please read carefully the Google Answers Terms of Service.

If you feel that you have found inappropriate content, please let us know by emailing us at answers-support@google.com with the question ID listed above. Thank you.
Search Google Answers for
Google Answers  


Google Home - Answers FAQ - Terms of Service - Privacy Policy