April 12, 2018
CWF's IRA/HSA Guidance - Certification For Late Rollover Contribution
Some IRA custodians are asking if they are required to help a customer who has failed to complete their IRA rollover within the 60 day deadline.
An IRA custodian/trustee has the discretion under IRS procedures to accept or not accept a late rollover. An IRA custodian/trustee is now permitted to accept a proposed IRA rollover contribution even if the person has missed the 60 day deadline as long as the person furnishes the IRA custodian/trustee with a late rollover certification form.
We have recently revised our Late Rollover Certification form. The changes a minimal, but the form has been improved.
An IRA custodian/trustee is to report a late rollover in box 13A and 13C of the Form 5498. Such a rollover is not reported in box 2 which is to be used to report only a qualifying rollover.
For of you who use our IRA FormSystem, there is no need to start using the revised form immediately. You may continue to use the prior version until we send the revised form which will be included in the next update.
If your institution does not presently have such a form, you may order it by providing your email address and contact information below.
The Price for CWF's fillable Late IRA Rollover Certification form is $18 if you purchase prior to April 30, 2018 and $23 thereafter.
Name and Address _______________________________________________________________
Email Address _______________________________________________________________
You may fax this completed form to 800.211.0760 or email to firstname.lastname@example.org
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