Coronavirus (COVID-19) News and Resources
Coronavirus (COVID-19) Webcasts
Subscribe to Free Daily Newsletters
Post a Job

Featured Jobs

Defined Contribution Account Manager
Nova 401(k) Associates logo
Nova 401(k) Associates
(Houston TX / Dallas TX / Scottsdale AZ / Telecommute)
Retirement Plan Processor
T Bank NA logo
T Bank NA
(Dallas TX)

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Get the BenefitsLink app LinkedIn

<< Previous news item   |   Next news item >>

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."

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2020, Inc.