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#1
02-06-2008, 12:29 AM
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 Re: Blew 60-day IRA rollover. Options? dpb wrote: - quote - > Meano.Culpa[at]yahoo.com wrote:
BTW, you might get more traction if you were to report a complaint to> > E*TRADE screwed up the direct transfers of two small IRA accounts to > > my 401(k) account. Instead, they cut me two checks and generated a > > couple of 1099s. In trying to fix the paperwork, I have run out the 60- > > day clock. > ... > > As a practical matter, do I have any options aside from the PLR route? > If you have documented evidence of an instruction improperly executed, I > would hound the brokerage to "fix it". They _CAN_; getting an online > firm of questionable reputation to do so may be a problem. > A poster child for why discount brokerages are so...  the SEC and your State equivalent. And, of course, you need a formal complaint to them and the documentation that supports the contention the didn't do what they were instructed. www.sec.gov and links therefrom... -- -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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02-05-2008, 07:32 PM
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| Re: Blew 60-day IRA rollover. Options? Meano.Culpa[at]yahoo.com wrote: - quote - > E*TRADE screwed up the direct transfers of two small IRA accounts to > my 401(k) account. Instead, they cut me two checks and generated a > couple of 1099s. In trying to fix the paperwork, I have run out the 60- > day clock. .... - quote - > As a practical matter, do I have any options aside from the PLR route?
If you have documented evidence of an instruction improperly executed, Iwould hound the brokerage to "fix it". They _CAN_; getting an online firm of questionable reputation to do so may be a problem. A poster child for why discount brokerages are so... -- -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
02-05-2008, 05:35 PM
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| Blew 60-day IRA rollover. Options? E*TRADE screwed up the direct transfers of two small IRA accounts to my 401(k) account. Instead, they cut me two checks and generated a couple of 1099s. In trying to fix the paperwork, I have run out the 60- day clock. I should be the poster child for a waiver. (I can demonstrate that I was trying to transfer the funds without ever touching them. I have the original checks uncashed and in hand. I am literally two days outside the window. My picture is in Rev. Proc. 2003-16 with the caption, "Should Get Waiver.") Unfortunately, a waiver is a PLR and would cost $500 (per account?). Since this is only about $18,000, the size of the accounts is sufficiently small that just the PLR filing fee(s) would chew up most of the 10% penalty savings. As a practical matter, do I have any options aside from the PLR route? Thanks for your attention. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| 60day, blew, ira, options, rollover |
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