60 Day Rule

[Dazednconfused]

Participant in SEP received a lump sum distribution, then he decided he didn't need the cash for what ever reason. If within the 60 days of the distribution can this be returned to the SEP Plan account (he will pay entire amount back including any tax) or does it need to funded into a different IRA account?

Thanks,

[ETA Consulting LLC]

He can put it back in the same account. Still treated as an IRA to IRA rollover. No more may be done within the next 12 months since it was not a direct transfer.

Good Luck!