IRA 60 Day Rollover Rule Exceptions
Under the 60-day rule, an IRA rollover must be completed no later than the 60th calendar day after the day the individual receives the distribution.
However, there are a few exceptions to this 60 day rollover rule:
- Frozen Deposits
- First Home Purchase
- Disaster Area or Combat Zone
- IRS Discretion – failing to waive the rule would go against equity or good conscience
There are also specific circumstances where an automatic waiver may be granted. If you have any IRA rollover questions or other retirement planning concerns, contact your local IRA distribution planning expert today for assistance!