RMDs and Roth IRA 5-Year Rule: Today’s Slott Report Mailbag
By Andy Ives, CFP®, AIF®IRA AnalystFollow Us on Twitter: @theslottreport QUESTION: I turn 72 years old next month. Can I take part...
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The Las Vegas Conference
The Ed Slott team hosted a highly successful training program for members of our Elite and Master Elite Advisor groups last week in Las Vegas. Over 300 financial advisors from across the country attended. Feedback on the educational material provided was positive, with one attendee saying he “never felt more empowered” in his 18-year career.
The Clock is Ticking on 2022 Conversions
Fall is in full swing now with football, foliage, and pumpkin spice everything. The holiday season is just around the corner. Before we know it, the year 2022 will come to an end. If you are considering converting an IRA to a Roth IRA in 2022, the clock is ticking. Here is what you need to know when making this decision:
IRA Rollovers and 2021 RMDs: Today’s Slott Report Mailbag
By Sarah Brenner, JDDirector of Retirement EducationFollow Us on Twitter: @theslottreport Question: Can an IRA to Roth IRA rollover be spread...
A Clear Explanation of the RBD
SECURE Act regulations shoved the required beginning date (RBD) to the front of the stage. No longer can the RBD hide from the bright lights. What was once somewhat of a minor date in people’s lives has blossomed into an important event with cascading impacts on generations of potential beneficiaries.
ELIGIBLE DESIGNATED BENEFICIARIES AND DISTRIBUTIONS OF ROTH CONVERSIONS: TODAY’S SLOTT REPORT MAILBAG
Question:Hello,I inherited an IRA from my brother who passed away on January 6, 2022. His DOB was 12/31/1952. He had just turned 69. I am 75. My DOB is 6/26/1947.I understand the rules have changed regarding inherited RMD distributions recently and some accounts need to be depleted within a 10-year period.
IRS Provides Some Relief for Victims of Hurricane Ian
If you are a victim of Hurricane Ian, you may be eligible for some relief when it comes to your retirement accounts.
IRS Waives 50% Penalty for Missed 2021 and 2022 RMDs Within the 10-Year Period
Last Friday (October 7, 2022), the IRS waived the 50% penalty on missed 2021 and 2022 inherited retirement account RMDs for beneficiaries subject to the SECURE Act 10-year payout period. The guidance was in IRS Notice 2022-53.
RMDs and Inherited IRAs: Today’s Slott Report Mailbag
Question:I must take an RMD this year, based on 12/31/2021 account values. My current account values are much less than those of 12/31/2021. This is typical, I’m sure. Is there any chance Congress will recognize this hardship and grant some relief similar to that granted several years ago when the virus pandemic began?
“Update Needed” – Top 5 IRA Items to Consider
We are constantly bombarded with requests to update our information. “Password needs updating.” “Software update for your mobile device.” “Please update your email so our marketing team can continue to fill your inbox with spam.” It is never ending. Most of these update requests are trash. An automatic delete. However, some updates are vitally important and demand our attention. Regarding retirement accounts and IRAs, here is a countdown of five critical items that should be considered, reviewed and updated immediately:
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