PWGuy, reading through this thread, I kept thinking "Please let someone have told him to deposit $5,500 for 2013" and then "Please let him have said he has done it already!"
Right now today, you have the option to put up to $5,500 into a Money Market Fund within your Roth IRA. Once there, you can withdraw your contributions if an emergency happens, and the principle is safe, since it's basically a savings account within your IRA. On April 16th, you will never again be able to contribute that $5,500 for 2013- you have 4 days to deposit it.
The advantages of leaving your money where it is: slightly easier to access (no forms to fill out, just click click and transfer to primary bank account).
The advantages of moving your EF to your Roth IRA:
1) You can contribute the full $5,500 for 2013.
2) Once you replenish your (more) liquid emergency fund, you can transfer the $5,500 out of the Money Market account (within your Roth IRA) into actual investments, such as index funds (within your Roth IRA).
3) That $5,500 will now have the potential to earn your MEANINGFUL gains, which it won't in Capital One 360 savings account.
4) You can still withdraw your contributions (the $5,500 you deposit) in case you have an emergency before you have replenished your 360 account.
Please read this article:
http://www.bogleheads.org/wiki/Roth_IRA_as_an_emergency_fund. It shows you the advantages of moving your emergency fund to your Roth IRA using clear math.
Remember to always understand what you're investing in before you invest your money in it, but also know that it is a good idea to max out your 2013 Roth IRA, if it is at all possible for you to do it. If I were in your situation, I would deposit my emergency fund in the Roth IRA Money Market Fund yesterday. It is still accessible, and it has far more earning potential in your Roth IRA than in your 360 account.