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Author: jocave One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 120809  
Subject: Re: ROTH IRA CONTRIBUTION MIGHT BE LATE Date: 4/14/1999 10:07 AM
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Relax -- all is well. TMFTaxes reports that the IRS has indicated via private letter ruling that it will accept a "postmark" date, rather than insisting that your broker process the transaction by April 15. Although technically a private letter ruling is only valid for the taxpayer who secures it, TMFTaxes predicts that the IRS will follow the same policy with respect to the rest of us. --Bob

Check with the broker, though, to see how they will handle it. Their policy may be to either ignore requests to fund '98 IRA's if all the paperwork isn't in by the 15th, to treat it as a '99 contribution, or something else. Brokers have much larger butts to cover than you or I, so they may choose a more conservative interpretation that the IRS might possibly allow (i.e. endless discussions on this board of the last date to make a '98 ED IRA contribution)

If they don't give you the response you want, remember that you have the option of aborting the broker IRA now, walking into a bank branch April 15, opening an IRA there, and then rolling it over in a month.
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