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IRS Rules Verbal Request a Timely IRA or ESA Contribution
Ascensus Link to more items from this source
Sept. 16, 2014
"The IRS has issued a private letter ruling (PLR) to a nonbank trustee that would permit the trustee' s clients to satisfy IRA and Coverdell education savings account (ESA) contribution deadline requirements by making timely written or oral requests to transfer funds from general accounts to IRAs or ESAs. PLR 201437023 was issued to a nonbank trustee whose clients commonly have IRAs or ESAs as well as general investment accounts with the organization. IRA and ESA contributions are often executed by the trustee transferring the appropriate amount from a client' s general account to his IRA or ESA."

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