Message Font: Serif | Sans-Serif
No. of Recommendations: 1
"It was a lot of paperwork restating the last three years of deposits into the correct tax years."

Been there; done that.

When you make an IRA/Roth IRA contribution in a year other than the current one--

1. write the year of the contribution in the memo box of your check. As "2003 IRA Contribution"

2. Check your statement to make sure it was properly recorded as for the proper year.

3. If not properly recorded, write your custodian a letter calling the error to their attention and keep a copy of the letter for your files.

I don't think this a big deal as long as you clearly establish your intent and make a reasonable effort to promptly correct your custodian's clerical error. Eventually it will come out in the wash and the paperwork catches up with your wishes.

Its merely a paperwork hassle.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.