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Time is running out to take required minimum distributions (RMDs) due for this year. Many companies have cut-off dates for distributions, so if you have not yet taken your RMD you need to act now. The penalty for not taking a distribution is 50% of the amount not taken. It must be reported on Form 5329 and if it is not reported, the statute of limitations does not start to run. Following are answers to questions that come up frequently at this time of year.
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This week's Slott Report Mailbag includes questions on Roth conversion options from a company plan, spousal rollovers, and Roth recharacterizations.
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Here is another video taking you behind the scenes at Ed Slott's NEW upcoming Public Television Special, Ed Slott's Retirement Rescue! This video takes you into the control room during the taping at WMHT in Albany, New York.
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Husband passed away October 2011, wife is primary bene and wants to gift his 2011 RMD to a church. Does...
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Before we pull the trigger on some year-end Roth Conversions, I would like to confirm that my understanding re. following...
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Hi All, We have a client that was in his mid 70’s and was required to take an RMD from...
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I have a client whose husband died and left no benef. listed on his TIAA-Cref 403B. She is sole benef...
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This video takes you behind the scenes of Ed Slott's Retirement Rescue!, his NEW upcoming Public Television Special. The special was taped on Tuesday, December 12th at WMHT studios in Albany, New York.
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QCDs – Qualified Charitable Distributions – are a means of transferring IRA assets to a charity. The transfer is not taxable to the account owner and a charitable deduction cannot be taken. These are the basic rules for a QCD follow.
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Last week we presented Part I of “10 Things You Probably Didn’t Know About Retirement Plans,” which we hope you found helpful. Here is the conclusion.
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