IRS written determination 201437026

Private letter rulings and published taxpayer determination letters. Native document type is retained separately; a determination letter is not labeled a private letter ruling. These taxpayer-specific releases cannot be used or cited as precedent under 26 USC 6110(k)(3); applicability and current legal force are not independently certified. Keep repeated UILC subjects attached to one actual numbered document.

TAX EXEMPT AND
GOVERNMENT ENTITIES
DIVISION
DEPARTMENT OF THE TREASURY
INTERNAL REVENUE SERVICE
WASHINGTON, D.C. 20224
JUN 1 9 2014
Uniform Issue List: 402.00-00
Legend:
Taxpayer
=
Plan
=
IRA
=
Amount M
=
AmountW
=
Amount N
=
Decedent
=
Company
=
Dear
2fl1437026
This is in response to a letter dated February 13, 2013, submitted on your
behalf by your authorized representative,
in which you request a waiver of the
60-day rollover requirement contained
in section 402(c)(3)of the Code.
The
following facts and representations have been submitted under
penalty
of perjury in support of the ruling requested.

Page 2
201437026
Taxpayer received a distribution of Amount M from Plan. Taxpayer
asserts that her failure to accomplish a rollover of Amount N within the 60-day
period prescribed by section 408(d)(3)
of the Code was due to the fact that her
distribution and the entire 60-day rollover period occurred while Taxpayer was
outside the United
States and was unaware
of the distribution until she returned
to the United States. Taxpayer further represents that Amount has not been used
for any other purpose.
Taxpayer was married to Decedent, who was employed by Company, the
custodian
of Plan. Decedent passed away on December 22, 2011.
Grieving Decedent's death, and with no family left
in the country, Taxpayer left
the United States and traveled to her native country for family support from
March 29 to October 16, 2012.
Decedent's account balance
in Plan totaled Amount M. Plan distributed ··.
Decedent's entire benefit in Plan to Taxpayer on June 29, 2012, totaling Amount
W, representing Amount M less withholding. Taxpayer only received the checks
on October 16, 2012, when she returned from foreign travel and on December
13, 2012, rolled Amount W into IRA. Taxpayer proposes to rollover Amount N
which would have been the amount eligible for rollover at the time Amount M was
originally distributed (Amount M less a required minimum distribution).
Based on the facts and representations, you request a ruling that the
Internal Revenue Service (Service) waive the 60-day rollover requirement
contained
in section 402(c)(3) of the Code with respect to Amount N.
Section 402(c) of the Code provides that if any portion of the balance to
the credit of an employee in a qualified trust is paid to the employee in an eligible
rollover distribution, and the distributee transfers any portion
of the property
received
in such distribution to an eligible retirement plan, and in the case of a
distribution
of property other than money, the amount so transferred consists of
the property distributed, then such distribution (to the extent transferred) shall not
be includible
in gross income for the taxable year in which paid. Section
402(c)(3)(A)
of the Code states that such rollover must be accomplished within
60 days following the day on which the distributee received the property. An
individual retirement account constitutes one form
of eligible retirement plan.
Section 402(c)(4) of the Code provides that an eligible rollover distribution
shall not include any distribution to the extent such distribution is required under
section
401 (a)(9) of the Code.
Section 402(c)(3)(8) of the Code provides, in relevant part, that the
Secretary may waive the 60-day requirement under section 402(c)(3)(A)
of the
Code where the failure to waive such requirement would be against equity
or
good conscience, including casualty, disaster, or other events beyond the
reasonable control
of the individual subject to such requirement.

Page 3
20143?026
Rev. Proc. 2003-16, 2003-4 I.R.B. 359, (January 27, 2003), provides that
in determining whether to grant a waiver of the 60-day rollover requirement
pursuant to section 402(c)(3)
of the Code, the Service will consider all relevant
facts and circumstances, including: (1) errors committed by a financial institution;
(2)
inability to complete a rollover due to death, disability, hospitalization,
incarceration, restrictions imposed by a foreign country
or postal error, (3) the
use
of the amount distributed (for example, in the case of payment by check,
whether the check was cashed); and (4) the time elapsed since the distribution
occurred.
The information presented and documentation submitted by Taxpayer is
consistent with her assertion that her
failure to accomplish a timely rollover was
due to the fact that the distribution and the entire 60-day rollover period occurred
after Taxpayer was outside the United States and unaware that a distribution
had, in-fact, occurred.
Therefore, pursuant to section 402(c)(3)(8)
of the Code, the Service
hereby waives the 60-day rollover requirement with respect to the distribution
of
Amount N from Plan. Taxpayer is granted a period of 60 days from the issuance
of this ruling letter to contribute Amount N into an IRA or other eligible retirement
plan. Provided all other requirements
of section 402(c)(3) of the Code, except ··.
the 60-day requirement, are met with respect to such contribution, the
contribution
of Amount N will be considered a rollover contribution within the
meaning
of section 402(c)(3) of the Code.
This
ruling does not authorize the rollover
of amounts that are required to
be distributed by section
401 (a)(9) of the Code.
No opinion is expressed as to the tax treatment
of the transaction
described herein under the provisions
of any other section of either the Code or
regulations which may be applicable thereto.
This letter is directed only
to the taxpayer who requested it. Section
611 O(k)(3) of the Code provides that it may not be used or cited as precedent.
Pursuant to a power
of attorney on file with this office, a copy of this letter
ruling is being sent to your authorized representative.
..
··.

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201437026
If you have any questions, please contact
Please address all correspondence to SE:T:EP:RA:T2.
Enclosures:
cc:
Deleted Copy
of Ruling Letter
Notice
of Intention to Disclose
vine, Manager
Plans Technical Group 2
• .
. ,,