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Banking/IRA tax expert. How can I get my bank to redo their ...
Sent to Finance Experts May 30 09:47 PM

Banking/IRA tax expert. How can I get my bank to redo their reporting to the IRS and admit that they made a mistake in opening a NON IRA Brokerage account instead of an IRA Brokerage account as they were requested?

 

Already Tried:
Phone conversations and emailing at the Executive level of the bank. They are not budging.

Customer (name blocked for privacy)
Status:  Closed   Value: $15
Answer
May 30 10:24 PM (37 minutes and 24 seconds later)
         
ACCEPTEDCheck Mark

Unfortunately - even if that is the mistake of a bank's employee - the IRS prohibit any correction after the deadline...

The bank is simply prohibited to make a correction and there is nothing you may do.

However if you have any losses based on that mistake you may request a compensation, file complain and/or sue the bank. Consider possible legal expenses - the bank may agree to compensation without the judgment.



The answer is an advisory opinion (not legal or financial advice). After accepting the answer bookmark it - you may return to this page later for reference or to ask for clarification. Appreciate your positive feedback.
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Lev -- Tax Preparer -- 98% Positive Feedback on 537 Finance Accepts
Personal Investment, Tax Preparation
Reply
May 30 11:33 PM (1 hour and 8 minutes and 43 seconds later)
         
If I also file a complaint with the State Banking Commission will this help my case?
Customer (name blocked for privacy)
Answer
May 30 11:55 PM (22 minutes and 5 seconds later)
         
ACCEPTEDCheck Mark

Yes - that might be helpful if the Commission would conduct investigation and the result will be in your favor.

You also may file a complain to the



The answer is an advisory opinion (not legal or financial advice). After accepting the answer bookmark it - you may return to this page later for reference or to ask for clarification. Appreciate your positive feedback.
Picture
Lev -- Tax Preparer -- 98% Positive Feedback on 537 Finance Accepts
Personal Investment, Tax Preparation
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