I rcv'd a forced 401(k) distribution from my employer, when the company changed hands. I went to my bank and opened up a money market IRA with half of the money. With the other half of the money I went to a credit union and opened up another money market IRA. I recently found that the account at the credit union was not in fact an IRA, they opened up a regular money markey account. I was assured by the bank officer when I opened up the account that it was an IRA. I rcv'd no checks, which you normally get with a money market, and had no indication that this was not an IRA. It is past the 60 day window to roll it over to a real IRA. I have called the IRS, but after being on the phone for 3 hours, I got no real answer. I was told I could file a waiver for the taxes I would owe? Can anyone provide me with any guidance on how to proceed? Is there a chance that I wont be liable for taxes on the distribution?