Quote:
Originally Posted by noppenbd
I did this a few years ago during a rollover and I got a physical check for the entire amount of the IRA (they did not withhold the 20% because I asked them not to).
Just be aware that if you miss that deadline by even 1 day you will owe taxes and penalties on the whole amount you withdrew. I believe the clock starts when the check is cut (not when you receive it), but double-check that with the IRA provider.
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If you can have them not do the 20%, that would be good.
And yes, the 60 days starts when they record the distribution, not when you receive it, and it definitely is a strict 60 days.