Direct 401k rollover to IRA? - Didnt cash check in 60 days???

[Shane H.]

I have a unique situation (I didnt realize it could be a situation until today) 

(disclaimer for any responders) - I'm asking this question with the understanding anyone that responds is not providing legal advice and they will be held harmless, seek my own professional advice etc)

Sept 30 2016 I had a check issued from my present 401k administrator (the company that administers the plan where I work) and made it payable to a Self Directed IRA account I set up ("John Smith" Company Rollover IRA FBO Shane H)

Time goes by I did not deposit the check into the SDIRA I had set up and just never followed through with the deposit.  I call a month ago as I see the check will expire and had the retirement plan administrator reissue the check (payable the same way)

Someone today just mentioned I had 60 days to deposit the check and complete the transaction -- I found the IRS website where it talks about that - but from my interpretation they are very vague - one part of the site makes it seem the 60 day clock is if you are paid the funds directly ( I was not in the case or at least in my interpretation) -- another part of the site makes it seem any eligible rollover is subject to the 60 day clock.

Did I screw myself by not depositing the check yet?  I think I'd have a valid argument as the plan administrator did not tell me I needed to deposit the check within 60 days - the check was never made payable directly to me (I couldnt cash it if I wanted to) and lastly the funds have sat on paper - I did not do anything with them and the only way I ever touched it was holding the envelope.

I cant find an answer to this online anywhere and everyone I've called says I dont know - I'll be consulting a CPA to see - If I am stuck paying taxes it's not an amount that will kill me but I'll be pissed at myself for not knowing.  Was never aware of a time limit and thought I could always show I never touched the funds it wasn't something to worry about - at least that's what was running through my mind.  Now that I've actually found a good use for them it will be upsetting to have to pay the tax.

[Brian Eastman]

@Shane H.

You should be OK.

The 60-day limitation applies to an "indirect" rollover, where the check is issued to you and you then deposit that to another retirement plan.

Since the funds were issued to the receiving IRA custodian, this should be a direct rollover and not create that issue.

You should be able to deposit the check if it is still valid.  If not, you should be able to request a new check.