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If you’re an IRA beneficiary subject to the 10-year payout period and would have had a 2023 RMD (required minimum distribution), you’re in luck. In Notice 2023-54 issued last Friday (July 14), the IRS said it would excuse those RMDs. The IRS also said it would extend the 60-day rollover deadline for IRA (and plan) account owners born in 1951 who received distributions in 2023 that weren’t necessary because of the SECURE 2.0 change that delayed their first RMD year from 2023 to 2024.

We have dealt with this before, and read extensively, but always appreciate some reassurance when dealing with large transactions. The...

Good Morning, I am 52 years old and looking to take a distribution of company stock with basis of around...

You can have too much of a good thing. While it is a good strategy to contribute to an IRA, some contributions are not allowed. When a contribution is not permitted in an IRA, it is an excess contribution and needs to be fixed. Some excess contributions are pretty easy to understand. Others are a little more complicated. Here are 5 ways an excess IRA contribution can happen:

Oftentimes with these articles, I compare certain retirement account rules to arbitrary items. A creative metaphor or simile can help the reader grasp a concept. For instance, past entries have referenced revolving doors, hurricane preparedness, Bloody Mary cocktails, Charlie Brown’s Halloween costume, genies in lamps and even Indiana Jones. But I was struggling. No single comparison seemed to carry the weight necessary to create an entire Slott Report submission. So, here is a 6-pack of random summertime similes and other retirement account comparisons.

Dear Ed Slot, In my will, upon my demise, the will becomes a testamentary trust leaving everything to my 3...

If I retire mid-year, do I have to stop my monthly ROTH IRA contributions on my retirement date or can...

Question: I believe we are all waiting for the IRS to issue rules related to distribution requirements (or not) for beneficiaries who are subject to the 10-year rule under the SECURE Act. Where is the clarification for 2023? In my situation, my children are beneficiaries who inherited an IRA from Grandma, who passed away in 2022.

2023 Mid-Year Frequently Asked Questions

• Social Security Inflation and Insolvency
• End of the Road for Crafty Strategies
• Pre-FRA Earnings
• Mixing Retirement Benefits and Social Security Disability
• Social Security Auxiliary Benefits
• Social Security and Earnings
• Medicare and Pesky “Aunt” IRMAA

Executive Summary

GUEST EXPERT: Matthew Collins,

In her June 28, 2023 Slott Report post, Sarah Brenner discussed several reasons why it pays to roll over your retirement plan savings to an IRA. Another option is to keep your funds in the plan. Keep in mind, though, this may not always be possible. Sometimes your plan may force you to take your dollars out, for example when you reach the plan’s retirement age (normally, age 65) or if you have a small account balance.