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What is the RBD? RBD stands for required beginning date. It is the date by which an IRA owner must take their first required minimum distribution (RMD) in order to avoid a 50% penalty. Generally, an individual must take their first distribution from a retirement account in the year they turn age 70 ½. The following points clarify exactly when you must take your first distribution.

I attempted a QCD on 4/2/15 (hoping they would again be legal). I soon learned that it could not be...

Husband died 2 years ago at age 65 and one of his IRA’s at Chase with $100k had no designated...

New client that is a self employed Individual that has a Simple IRA plan and over contributed the match amount...

The rules say that if you convert and then re-characterize, you cannot reconvert those same funds until the year after...

Hi, An IRA owner age 80 died in January 2016 before he was able to take his RMD. I believe...

Client is retiring and has a large number of “highly appreciated” company shares in their retirement savings plan worth over...

You converted your traditional IRA to a Roth IRA. Then, you recharacterized those Roth IRA funds back to a traditional IRA. You are not alone. Many taxpayers recharacterize Roth IRA conversions. This is especially common in times of market volatility. For many taxpayers, a recharacterization makes sense when faced with a Roth IRA that declined in value since the conversion. Why pay a tax bill on value that no longer exists? After the recharacterizion, you may be wondering... what next? Here are some things you need to know.

As you read this and say to yourself that I’m stupid for not dealing with this sooner, let me begin...

This past weekend, advisors from all across the country gathered at the Mirage Hotel and Casino in Las Vegas, Nevada to spend two days with the Ed Slott and Company team for our latest Instant IRA Success 2-Day IRA Workshop. Over the two days, there were – no doubt – hundreds of questions asked and answered by our team. Here are three of our favorites, along with the answers.