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Tax Law (Questions About Taxes)/Bank Error on IRA Distribution Date


As MRD I withdrew 20K from my traditional IRA in 2015, to be included in 2015 tax filing.  On December 31, 2015, I asked the broker to make a transfer, on January 1, 2016, of 20K from the same traditional IRA to my savings account.  The broker made the transfer on December 31 instead of January 1.  I asked the bank to correct its mistake, but was told it could not.  Is there anything I can do to report 20K for 2015 filing and 20K for 2016? 40K all at once will put me in higher tax bracket.  Your help will be greatly appreciated.  Thanks.


Thanks for your question.

As far as the IRS is concerned, you have no options. Your 1099-R will reflect both distributions.

I'm not an attorney, so I can't say for certain, but you may have a remedy against broker for failure to make a distribution according to your instructions.

Hope this helps.

John Stancil, CPA

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

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