TAX EXEMPT AND GOVERNMENT ENTITIES DIVISION DEPARTMENT OF THE TREASURY INTERNAL REVENUE SERVICE WASHINGTON, D.C. 20224 MAR 0 1 2016 Uniform Issue List: 408.03-00 * * * * * * * * * Legend: Taxpayer A: = * * * Individual 8 = * * * IRA X = * * * * * * Amount C = * * * Dear***: 201622037 This is in response to your request dated October 1, 2015, as supplemented by correspondence dated January 12, 2016 and February 16, 2016, in which you requested a waiver of the 60-day rollover requirement contained in section 408(d)(3) of the Internal Revenue Code (the "Code"). The following facts and representations have been submitted under penalty of perjury in support of the ruling requested. Taxpayer A represents that she received a distribution from IRA X totaling Amount C. Taxpayer A asserts that her failure to accomplish a rollover within the 60-day period prescribed by section 408(d)(3) was due to the medical condition of Individual 8, father-in-law of Taxpayer A, and her duties as his caregiver which impaired her ability to accomplish a timely rollover. Taxpayer A further represents that Amount C has

not been used for any other purpose. Taxpayer A received the distribution on July 29, 2015, with the intent of moving the funds to an IRA at a bank closer to her home. During that time Individual 8 had severe dementia and could not take care of himself or make decisions. Taxpayer A and

2 21)1622037 her husband were required to travel frequently to provide care to Individual B. Individual B passed away on October 19, 2015. Because Taxpayer A was preoccupied with the care she was required to provide Individual B she did not realize she had missed the 60-day rollover period until a few days after the period had expired. At that time, Taxpayer A prepared this ruling request. 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 408(d)(3) of the Code with respect to the distribution of Amount C. Section 408(d)(1) of the Code provides that, except as otherwise provided in section 408(d), any amount paid or distributed out of an IRA shall be included in gross income by the payee or distributee, as the case may be, in the manner provided under section 72 of the Code. Section 408(d)(3) of the Code defines, and provides the rules applicable to IRA rollovers. Section 408(d)(3)(A) of the Code provides that section 408(d)(1) of the Code does not apply to any amount paid or distributed out of an IRA to the individual for whose benefit the IRA is maintained if: (i) the entire amount received (including money and any other property) is paid into an IRA for the benefit of such individual not later than the 60th day after the day on which the individual receives the payment or distribution; or, (ii) the entire amount received (including money and any other property) is paid into an eligible retirement plan (other than an IRA)

for the benefit of such individual not later than the 60th day after the date on which the payment or distribution is received, except that the maximum amount which may be paid into such plan may not exceed the portion of the amount received which is includible in gross income (determined without regard to section 408(d)(3)). Section 408(d)(3)(B) of the Code provides that section 408(d)(3) does not apply to any amount described in section 408(d)(3)(A)(i) received by an individual from an IRA if at any time during the 1-year period ending on the day of such receipt such individual received any other amount described in section 408(d)(3)(A)(i) from an IRA which was not includible in gross income because of the application of section 408(d)(3). Section 408(d)(3)(D) of the Code provides a similar 60-day rollover period for partial rollovers.

3 281622037 Section 408(d)(3)(E) of the Code provides that the rollover provisions of 408(d) do not apply to any amount required to be distributed under section 401 (a)(9) of the Code. Section 408(d)(3)(1) of the Code provides that the Secretary may waive the 60- day requirement under sections 408(d)(3)(A) and 408(d)(3)(D) 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. 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 408(d)(3)(1), 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 A is consistent with her assertion that the failure to accomplish a timely rollover was due to the medical condition of Individual B, father-in-law of Taxpayer A, and her duties as his caregiver which impaired her ability to accomplish a timely rollover Therefore, pursuant to section 408(d)(3)(1) of the code, the Service hereby waives the 60-day rollover requirement with respect to the distribution of Amount C from IRA X. Taxpayer A is granted a period of 60 days from the issuance of this ruling letter to contribute up to Amount C into a rollover IRA. Provided all other requirements of section 408(d)(3) of the Code, except the 60-day requirement, are met with respect to such contribution, the contribution up to Amount C will be considered a rollover contribution within the meaning of section 408(d)(3) of the Code. This ruling does not authorize the rollover of amounts 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.

4 If you wish to inquire about this ruling, please contact*** (I. D. no. ***)at***. Please address all correspondence to SE:T:EP:RA:T2. Enclosures: Deleted copy of ruling letter Notice of Intention to Disclose Sincerely yours, ~.fJ-- Sherri M. Edelman, Manager, Employee Plans Technical Group 2