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Complex rules are “ridiculous” but advisors can add long-term value by helping clients get their IRAs and 401(k) balances down.

Financial advisors are well aware of the tax rules that affect retirement withdrawals, required minimum distributions, Roth conversions and rollovers. Clients, though, can often make major wealth-killing mistakes when managing their retirement savings.

The IRS has released almost 300 pages of regulations on required minimum distributions (RMDs) for IRAs and 401(k)s, in two parts. The first part was the FINAL Secure Act Regulations-7-18-24.pdf which ran 260 pages. The second part was the Proposed SECURE 2.0 Regualtions-7-18-24.pdf which ran another 36 pages.

The IRS’ final rules on required minimum distributions for beneficiaries under the 10-year rule, released Thursday, have created ”an unnecessary complication” that only Congress can fix, according to IRA and tax expert Ed Slott of Ed Slott & Co.

While an IRA rollover is the best move for most people when distributing money from a 401(k) plan, there is a special case when a lump-sum distribution makes sense — and the justification for one is “bigger than ever,” according to tax and IRA expert Ed Slott of Ed Slott & Co.

There is confusion over RMD rules and advisors must step up to the plate to help clients. The penalty for missing a required minimum distribution (RMD) is one of the largest in the Tax Code. For years it was 50 percent of the amount that should have been taken but was not.

Tax and IRA expert Ed Slott runs down the key options for managing your retirement accounts.

Tax and IRA expert Ed Slott says there’s a small positive with higher inflation: greater Roth conversion opportunities.

When you were a kid, and your mom asked you clean your room or pause your video game or come in for dinner, you likely told her some variation of, “in a minute” or “I’ll do it later.”

What do you do to diffuse the retirement time bomb? The government has a plan, and you won’t like it. Joe was the emcee recently for maybe the biggest name in tax planning — Ed Slott — and his book launch event. We’re replaying as our mentor segment today Joe’s interview with Ed from that event because there are so many “a-ha” moments and good direction toward ensuring that your tax time bomb doesn’t go off all over your retirement.