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Bill’s company has 5 employees and they have a traditional safe harbor 401k plan. He is the owner and is...

I continue to read with interest the emails from Ed Slott about updated IRS rules about the subject. Now the...

I have a unique (I think) situation that I haven’t been able to find any answers to. We had two...

The part of the new IRS SECURE Act regulations causing the most reaction is the one requiring annual required minimum distributions (RMDs) for some IRA or workplace plan beneficiaries subject to the 10-year payment rule. Under the SECURE Act, IRA or plan beneficiaries who are not “eligible designated beneficiaries” (EDBs) are subject to the 10-year rule. (EDBs are surviving spouses; children of the IRA owner or plan participant who are under age 21; disabled or chronically ill individuals; and anyone not more than 10 years younger than the owner/participant.)

Question: Hello. I was reading the 2/28/22 edition of the Slott Report and noticed the section titled “Beneficiaries Hit w/Annual RMDs and the 10-Year Rule.” It was my understanding that starting 1/1/20, most non-spouse beneficiaries would have 10 years from the year of death to distribute the IRA, with no RMDs required.

Last year 2021 I understood that the IRS had clarification that as long as the beneficiary took out the proceeds...

Our client made a $6,000.00 2021 Roth IRA contribution but was ineligible to make that contribution. We are recharacterizing that...

Hello, I have a client who rolled over $150,000 in June 2021 and they took a distribution in October for...

The 275 pages of proposed SECURE Act regulations, released by the IRS on February 23, are chock full of little details. Each of these tidbits will have some impact on particular IRA owners and retirement account participants. One such new rule pertains to the age of majority. When is a minor child recognized as an adult? Existing IRS guidance deferred to the age of majority under state law. This created some confusion as most states said age 18, a couple said 19, and Mississippi said 21. Why is this important? The age of majority dovetails with the opportunity a minor beneficiary has to stretch inherited IRA account assets.

In February of 2017, an unauthorized (fraudulent) credit card was opened under our name. Eventually it went to a collection...