sophal[at]uc.edu.kh (Sophal) wrote:

- quote -

If it has been more than 60 days since the conversion
withdrawal, it is too late to roll the money back into the
IRA.

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Sophal wrote:

- quote -

I replied privately to the poster, as I wasn't aware that it
WAS crossposted to this group, but....

I don't see any reason why the 60-day rule SHOULDN'T apply
to "replenish", as he puts it, the Roth.

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I recently did a conversion from Regular/Rollover IRAs to
Roth IRAs and mistakenly requested withholding when, as I
now realize, it was totally unnecessary and resulted in
$6,000+ leaving the protection of my IRA (when I had that
money available in a savings account).

Is there anything I can do to reinstate that money (it has
already been sent to the IRS and the California Franchise
Tax Board), as for example, is there any provision for me to
replenish the amount withheld back into the IRA? It strikes
as an accounting problem, but my mutual fund company doesn't
seem to be able to help. They say that it's too late.

I withheld because I currently live outside the United
States and didn't want to bother with questerly estimated
tax payments. For some reason, it escaped my mind entirely
that witholding = withdrawing. I was thinking witholding =
set aside (for future payment).

I just want to exhaust every possible avenue at this point,
as it will take two years ($3,000 per year) to achieve this
contribution in a Roth IRA.

Thanks,

Sophal

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