401k rollover question

[Klubbie]

Last year I changed employers and rolled my 401k over from the Fidelity 401k administered through my employer to a rollover IRA (still) with Fidelity.

This was last summer. In January of this year, my former employer deposited ~ $200 into that old 401k. Since I had already rolled the 401k to an IRA, there was only ~$200 sitting in that account. Since the dollar amount was so low they cut me a check to disperse the money to me. My plan had been to just roll it into the rollover IRA, but since the check was dispersed to me before I initiated the rollover I now have a $200 check.

Is there any way I can still get this into the rollover IRA without paying taxes and penalty on this? Or am I SOL and just going to be able to take it and invest into the rollover IRA as a contribution for this year and then pay the taxes/penalty on the ~$200?

[kaneohe]

You should be able to deposit it in IRA without a problem.
Tell custodian it is a rollover from 401K.

[Spock]

You have 60 days to rollover.
Since you got the check in January and its now June you will have to treat it as a distribution and pay the penalty if younger than 59.5.

[kaneohe]

Quote:

Originally Posted by Spock You have 60 days to rollover. Since you got the check in January and its now June you will have to treat it as a distribution and pay the penalty if younger than 59.5.

good point........completely missed the timing issue...
good thing you came along.

[Klubbie]

I actually didn't get the check until April. The cash was unexpectedly dropped into my account in January. I had planned to roll it over but hadn't done anything with it yet until recently.

kaneohe, I took your advice above and think i got it deposited electronically earlier today.

Thanks for the help!