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period (including giving instructions to deposit the funds into a plan or IRA). • The funds aren’t deposited into a plan or IRA within the 60-day rollover period solely because of an error on the part of the financial institution. • The funds are deposited into a plan or IRA within 1 year from the beginning of the 60-day rollover period. • It would have been a valid rollover if the financial insti- tution had deposited the funds as instructed. If you don’t qualify for an automatic waiver, you can use the self-certification procedure to make a late rollover con- tribution or you can apply to the IRS for a waiver of the 60- day rollover requirement. How do you self-certify that you qualify for a waiver? Pursuant to Revenue Procedure 2016-47 in Internal Reve- nue Bulletin 2016-37, available at IRB 2016-37, you may make a written certification to a plan administrator or an IRA trustee that you missed the 60-day rollover contribu- tion deadline because of one or more of the 11 reasons listed in Revenue Procedure 2016-47. A plan administra- tor or an IRA trustee may rely on the certification in ac- cepting and reporting receipt of the rollover contribution. You may make the certification by using the model letter in the appendix to the revenue procedure or by using a letter that is substantially similar. There is no IRS fee for self-certification. A copy of the certification should be kept in your files and be available if requested on audit. How do you apply for a waiver and what is the fee? You can request a ruling according to the procedures out- lined in Revenue Procedure 2003-16 and Revenue Proce- dure 2018-4. The appropriate user fee of $10,000 must accompany every request for a waiver of the 60-day roll- over requirement (see the user fee chart in Appendix A of Revenue Procedure 2018-4). How does the IRS determine whether to grant a waiver in a private letter ruling? In determining whether to issue a favorable letter ruling granting a waiver, the IRS will consider all of the relevant facts and circum- stances, including: • Whether errors were made by the financial institution, that is, the plan administrator, or IRA trustee, issuer or custodian; • Whether you were unable to complete the rollover within the 60-day period due to death, disability, hos- pitalization, incarceration, serious illness, restrictions imposed by a foreign country, or postal error; • Whether you used the amount distributed; and • How much time has passed since the date of the dis- tribution. Note. The IRS can waive only the 60-day rollover re- quirement and not the other requirements for a valid roll- over contribution. For example, the IRS can’t waive the IRA one-rollover-per-year rule. For more information on waivers of the 60-day rollover requirement, go to RetirementPlans-FAQs. Amount. The rules regarding the amount that can be rol- led over within the 60-day time period also apply to the amount that can be deposited due to a waiver. For exam- ple, if you received $6,000 from your IRA, the most that you can deposit into an eligible retirement plan due to a waiver is $6,000. Extension of rollover period. If an amount distributed to you from a traditional IRA or a qualified employer retire- ment plan is a frozen deposit at any time during the 60-day period allowed for a rollover, two special rules ex- tend the rollover period. • The period during which the amount is a frozen de- posit isn’t counted in the 60-day period. • The 60-day period can’t end earlier than 10 days after the deposit is no longer frozen. Frozen deposit. This is any deposit that can’t be with- drawn from a financial institution because of either of the following reasons. • The financial institution is bankrupt or insolvent. • The state where the institution is located restricts with- drawals because one or more financial institutions in the state are (or are about to be) bankrupt or insol- vent. Rollover From One IRA Into Another You can withdraw, tax free, all or part of the assets from one traditional IRA if you reinvest them within 60 days in the same or another traditional IRA. Because this is a roll- over, you can’t deduct the amount that you reinvest in an IRA. You may be able to treat a contribution made to one type of IRA as having been made to a differ- ent type of IRA. This is called recharacterizing the contribution. See Recharacterizations in this chapter for more information. Waiting period between rollovers. Generally, if you make a tax-free rollover of any part of a distribution from a traditional IRA, you can’t, within a 1-year period, make a tax-free rollover of any later distribution from that same IRA. You also can’t make a tax-free rollover of any amount distributed, within the same 1-year period, from the IRA into which you made the tax-free rollover. The 1-year period begins on the date you receive the IRA distribution, not on the date you roll it over into an IRA. Rules apply to the number of rollovers you can have with your traditional IRAs. See Application of one-roll- over-per-year limitation below. Example. You have two traditional IRAs, IRA-1 and IRA-2. In 2018, you made a tax-free rollover of a distribu- tion from IRA-1 into a new traditional IRA (IRA-3). You can’t, within 1 year of the distribution from IRA-1, make a tax-free rollover of any distribution from either IRA-1 or IRA-3 into another traditional IRA. For 2018, the rollover from IRA-1 into IRA-3 prevents you from making a tax-free rollover from IRA-2 into any TIP Chapter 1 Traditional IRAs Page 23