Recent rulings by the Internal Revenue Service make it easier for individuals who have missed the 60-day tax-free rollover deadline for individual retirement accounts and other tax-advantaged retirement plans to obtain a waiver and successfully complete the rollover.

Generally, there are two conditions under which the IRS may grant a waiver:

  • An automatic extension due to error by the financial institution, or
  • A request for a waiver based on taxpayer circumstances.

Click here for a set of IRS Q&As which provides the details.