-25-
Furthermore, in this case, the 60-day period is satisfied
regardless of the date used as the date of the "transfer of a
distribution". See sec. 402(c)(3). That date could be August 4,
1998, the day on which petitioner hand-delivered the certificate
to Norwest, or August 24, 1998, the day on which Norwest recorded
the transfer on its statement for petitioner’s IRA for the period
ending August 31, 1998.
Petitioners do not deny that they intended to rollover the
distribution which Mr. Kopty received in 1998 from the J.D.
Edwards & Co. ESOP. Further, they do not deny that Mr. Kopty
delivered his J.D. Edwards & Co. stock certificate to Norwest on
August 4, 1998. What they argue is that when Mr. Kopty hand-
delivered the stock certificate to Norwest on August 4, 1998, he
intended to give the certificate to Norwest only for safekeeping,
pending the reissuance of the stock without restriction and its
sale. Petitioners assert that Norwest made a mistake by
depositing the stock into petitioner’s IRA before October 2,
1998, the date on which petitioner executed the Norwest form
entitled “Self-Directed IRA Rollover/Direct Rollover
Documentation”.
One problem we have with this factual contention is that
there is nothing in the record, other than petitioners’
testimony, to substantiate it. Certainly, Mr. Kopty did nothing
to call this alleged mistake to the attention of the Norwest
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