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The 60-Day IRA Rollover: What Can Go Wrong
The Slott Report Link to more items from this source
Mar. 21, 2014
"This rollover started in 2008. It was finalized six years later. The IRS fee alone for this type of ruling is capped at $3,000. Generally you also have to pay a professional to prepare the [private letter ruling request]. Given the amount of times IRS requested more information from Nancy, the professional might have charged her another $10,000. The cost in time and money to complete this rollover -- not to mention the aggravation and stress on Gary and Nancy -- is something that we want you to avoid. DON'T DO 60-DAY ROLLOVERS."

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