In general, the 60-day period for making rollover contributions is not extended for any reason. The period begins to run on the date the check is received, not the date on the check. Certain distributions that become “frozen deposits” during the 60-day rollover period do get a special extension of the 60-day time frame. The time the amount is a frozen deposit doesn’t count as part of the 60-day period. After the funds are “unfrozen,” the period begins to run again, but it doesn’t end until at least 10 days after funds are released. A “frozen deposit” is any deposit which can’t be withdrawn because of: (1) bankruptcy or insolvency of a financial institution, or (2) any state requirement imposed because of a financial institution’s bankruptcy.

IRS has privately ruled that the 60-day deadline on retirement plan rollovers doesn't apply to direct rollovers made by way of a properly drawn check. In this instance the distribution check was given to the taxpayer but made out to the new employer “for benefit of” the taxpayer; thus, the check was not payable to the taxpayer – in effect the taxpayer never received a distribution that was subject to the 60-day rule. The fact that the taxpayer held onto the check drawn by the transferor plan for more than 60 days didn't convert the rollover into a taxable transfer. (PLR 201005057)

If funds are withdrawn to purchase a home and the buyer(s) qualifies as a first-time homebuyer(s) and the purchase cannot be completed within 120 days, the taxpayer may re-contribute the funds to the IRA account as long as 120 days have not passed since the withdrawal. In other words, for first-time homebuyers the 60-day rollover period is replaced with 120 days. For this purpose, a first-time homebuyer is one who had no present interest in a main home during the 2-year period ending on the date of acquisition of the home, which the distribution is being used to buy, build or rebuild. If married, the spouse also must meet the no-ownership requirement.

The IRS will postpone certain retirement plan and IRA deadlines, including the 60-day rollover period, for taxpayers affected by a presidentially declared disaster, as was the case regarding the COVID-19 emergency. (Rev Proc 2007-56)