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Are there any automatic waivers of the 60-day rollover period?

April 26, 2017automatic period rollover waivers

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Are there any automatic waivers of the 60-day rollover period?

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• The financial institution receives the funds on your behalf before the end of the 60-day rollover period. • You followed all the procedures set by the financial institution for depositing the funds into an eligible retirement plan within the 60-day period (including giving instructions to deposit the funds into an eligible retirement plan). • The funds are not deposited into an eligible retirement plan within the 60-day rollover period solely because of an error on the part of the financial institution. • The funds are deposited into an eligible retirement plan within 1 year from the beginning of the 60-day rollover period. • It would have been a valid rollover if the financial institution had deposited the funds as instructed. If you do not qualify for an automatic waiver, you can apply to the Service for a waiver of the 60-day rollover requirement.