Site search

10 Things Every Advisor Must Know When a Spouse Inherits an IRA 1. How to Ensure All Options for a Spouse Beneficiary 2.

Community Property and Retirement Plans My IRA is Not Always Your IRA • Retirement Plans and Other “Stuff” • Community Property States • Determining Whether Community Property Rules Apply • How Community Property Works • When Do the Rules Collide?

SEP and SIMPLE IRAs… IRAs? Employer Plans? Or Both? Do Roth IRA Conversions For High- Income Clients Make Sense? • Contribution Limits • Contributions after Age 70½ Allowed • IRA Contribution Deadline • SEP IRA Contribution Deadline • SIMPLE IRA Contribution Deadline • RMDs at Age 70½ Even if Still Working • Aggregating RMDs • Bankruptcy Protection • Creditor Protection in Non- Bankruptcy Situations • Taxation of Distributions • SEP and SIMPLE IRA Documents • Form 5498 Reporting –

Court Allows IRA
Owner to Claim
Unreported Basis
Custodian’s Mistake
Results in Two Extra
72(t) Payments
Guest IRA Expert
Marty James,

Top IRA Rulings of 2014
• The Bobrow Decision and
the “New” Once-Per-Year
Rollover Rule
• Post-Bobrow Takeaways for
Advisors
• IRS Answers Some Questions
in Post-Bobrow Guidance,

IRA Owner’s Attempt to
Circumvent Custodian’s
Direct Real Estate
Investment Prohibition
Backfires
Court Rules IRA Funds
Protected in Bankruptcy
After Distribution
Guest IRA Expert
Natalie Choate,

Tax Court Changes the
Game for IRA Rollovers
Court Rules Once-Per-Year
Rollover Rule Applies to All
of a Taxpayer’s IRAs
New MyRA Retirement
Account Introduced
• Facts of the Case
• IRS Says Only One of Three
Rollovers was Valid
• Tax Court Ruling Throws a
Double Whammy Once-Per-
Year Rollover Rule Curveball
• Once-Per-Year Rollover Rule
Essentials
• Once-Per-Year Rollover Rule
with Multiple IRAs
• No Relief When Violating the
Once-Per-Year Rollover Rule
• The Tax Court’s Final
Decision
• Spouse’s IRA Rollover Was
After 60 Days
• 20% Accuracy-Related Penalty
• Impact on Clients Who Did
Multiple Rollovers in Prior
Years
• A Final Thought
–

Top IRA Rulings of 2013
• ATRA Expands In-Plan Roth
Conversions
• Roth Conversions Can Help
IRA Trusts Avoid the New
39.6% Top Income Tax Rate
• IRA Estate Planning Post-
ATRA
• U.S.

What Are IRA
Custodians Really
Responsible For?

• No Duty to Inform of the 60-
Day Rollover Rule
• Custodian Error Can Help Get
Clients an Extension of the
60-Day Rollover Window
• Federal Income Tax
Withholding
• IRS Penalty Taxes
• Look-Through Trust Status
for Stretch IRA Purposes
• Required Minimum
Distributions at Age 70½
• Reporting Disability
Distributions
• Naming and Updating IRA
Beneficiaries
• Valuing IRA Assets at Fair
Market Value
• Calculating Net
Income or Loss on an
Excess Contribution or
Recharacterization
• Setting up Separate Accounts
for Multiple Beneficiaries
after Death
• Contribution Eligibility
–

Avoid These IRA Annuity Traps • Using the Wrong Value to Calculate Roth Conversion Income or RMDs • Don’t Fall Into the “Spring-Back”