I opened a traditional IRA for {$6500.00} with State Farm Bank in XXXX XXXX, for tax year XXXX. The agent erroneously identified the account as a rollover. I did not notice the error until this year when I did my XXXX taxes. When I asked the agent to correct the error, she said it was too late and that I should instead amend my XXXX tax return. The bank offered to reimburse me for the nearly {$2000.00} in additional income tax, but not for any penalty or interest, nor for the additional tax I would owe for XXXX on the {$2000.00} reimbursement. I have repeatedly asked why the bank ca n't just issue me a form XXXX for XXXX, which I understand would cost them only a {$50.00} late penalty rather than {$2000.00}. To date, the only reason I have been given is that the deposit was " coded wrong. '' I do n't see anything in IRS regulations to prohibit issuance of a XXXX form XXXX now. To complicate matters, the bank decided to change the {$6500.00} IRA account I opened in XXXX XXXX, for tax year XXXX, as being for tax year XXXX. Any assistance you can offer to resolve this mess would be appreciated. 
