>the biggest problem Carl has is erroneous 1099's.Does this actually happen? Do they correct it the same year? Can the second set be "un-issued" and how is it usually corrected?>but the one from the bank is not, but Carl really>needs to speak with the bank and figure out why they issued a 1099-R.This is happening right now, but I would like to assess whether Carl needs to hire an accountant or attorney.>Money coming out of a money market account does not cause a 1099-R. >Unless the MMA was itself an IRA and them moved it to a different IRA>for the new 'ExtremeTrading' thing. In which case I think they may>have royally sc***ed him.Right, that's what I'm upset about. The bank was affiliated / a reseller of the DaisyInsurance products, provided all the paperwork for Carl, and in some ways, helped initiate the whole process.What are the consequences of a second rollover?How is it fixed?Also, I would like to know if the bank is responsible in some way, especially if Carl ends up having to pay penalties, and what kind of penalties.
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