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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 RC4+lp4dfV6KAZ5pA5flt3XD6edUHgFqK9GsxqqcRv2sWpyCxSXS4UBV/QgHX8su
 C5WkCJj3Mad3lAuVVTv1pQ==

<SEC-DOCUMENT>0001008231-05-000010.txt : 20051102
<SEC-HEADER>0001008231-05-000010.hdr.sgml : 20051102
<ACCEPTANCE-DATETIME>20051102213218
ACCESSION NUMBER:		0001008231-05-000010
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20051031
FILED AS OF DATE:		20051102
DATE AS OF CHANGE:		20051102

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MAGNA LAB INC
		CENTRAL INDEX KEY:			0000895464
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				113074326
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0228

	BUSINESS ADDRESS:	
		STREET 1:		6800 JERICHO TURNPIKE, SUITE 120W
		CITY:			SYOSSET
		STATE:			NY
		ZIP:			11791
		BUSINESS PHONE:		(516) 393 5874

	MAIL ADDRESS:	
		STREET 1:		6800 JERICHO TURNPIKE, SUITE 120W
		CITY:			SYOSSET
		STATE:			NY
		ZIP:			11791

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KANTER JOEL S
		CENTRAL INDEX KEY:			0001008231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21320
		FILM NUMBER:		051174783

	BUSINESS ADDRESS:	
		STREET 1:		8000 TOWERS CRESCENT DRIVE
		STREET 2:		SUITE 1070
		CITY:			VIENNA
		STATE:			VA
		ZIP:			22182
		BUSINESS PHONE:		7034487688

	MAIL ADDRESS:	
		STREET 1:		650 MADISON AVENUE
		STREET 2:		21ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-10-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000895464</issuerCik>
        <issuerName>MAGNA LAB INC</issuerName>
        <issuerTradingSymbol>magla.ob</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001008231</rptOwnerCik>
            <rptOwnerName>KANTER JOEL S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>650 MADISON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>21ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2005-10-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>142035</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>5417</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>142035</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.25</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-10-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F3"/>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>75000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2001-01-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2006-01-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>75000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents accrued unpaid compensation forfeited by the reporting person pursuant to a settlement agreement with the issuer.  As additional consideration, the reporting person has forfeited options to purchase 75,000 shares of class A common stock of the issuer, representing all issuer stock options owned by the reporting person.</footnote>
        <footnote id="F2">Does not include 190,000 shares of class A common stock held by a family foundation.  The reporting person has no pecuniary interest in such shares and disclaims beneficial ownership thereof.</footnote>
        <footnote id="F3">Represents the cancellation of stock options forfeited by the reporting person as described in footnote 1 above.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Joel S. Kanter, by Keith Moskowitz, attorney-in-fact</signatureName>
        <signatureDate>2005-11-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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