The Internal Revenue Service provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into another retirement plan or individual retirement arrangement (IRA).
Retirement plan administrators, and IRA trustees, custodians and issuers (“IRA trustees”) can now accept late rollover contributions from individuals who self-certify they qualify for a waiver of the 60-day rollover requirement if:
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