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How long to unwind ineligible rollover transaction?

Guest Pennysaver

By Guest Pennysaver
in Distributions and Loans, Other than QDROs

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Guest Pennysaver

Guest Pennysaver

Posted
Posted

An employee rolled over a distribution that wasn't eligible for rollover to an IRA. Is there a deadline by which the rollover transaction must be unwound? If it is never undone, is the IRA forever tainted? Or is there some sort of statute of limitations?

david rigby

david rigby

Posted
Posted

Still within the 60 days?

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

Guest Pennysaver

Guest Pennysaver

Posted
Posted
Still within the 60 days?

Unfortunately, no. It's been over a year.

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