Monday, February 11, 2013
Is It Too Late to Deposit This Check Into My IRA?
A: You are in luck! You can deposit that check, even though it is after the 60 days from when you received it. The 60-day rule does not apply to a direct rollover. A direct rollover is when you don't have control of the money. In this case, the check was made payable to your IRA custodian, not you. Therefore, you can deposit that direct rollover check after 60 days.