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IRS Official Says Back-Door Roth Transactions are OK

For years there has been concern by some planners that a back-door Roth conversion might be considered a step transaction by IRS. Most planners, however, did not feel that a back-door Roth fit all the criteria of a step-transaction.

Late 401(k) Deposits

Every retirement plan custodian has an interactive website that participants can visit, if their employer offers that feature. While all are a little different, the websites all contain access to vital information about your account under the plan.

Rolling Over IRAs & Excess Contributions: Today’s Q&A Mailbag

Question:My husband passed away this April at 83. I’m 68 and sole beneficiary of his traditional IRA. I was advised that it didn’t matter if I rolled his IRA into mine and then took his RMD for the year as long as I do so by 12/31/2018. I rolled his IRA into mine early May.

The Supreme Court Has an IRA Reminder for You

In the recent case of Sveen v. Melin, the Supreme Court ruled that life insurance proceeds would not go to an ex-spouse, even though her name remained on the beneficiary form after the divorce. Instead, the Court said the Minnesota state statute removing an ex-spouse as a beneficiary upon divorce is constitutional and awarded the life insurance proceeds to the contingent beneficiaries; children from a prior marriage.

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