Yesterday, the IRS released IRS Announcement 2014-32, providing updated guidance on the once-per-year IRA rollover rule.
This guidance is extremely important and impacts anyone with more than one IRA and Roth IRA... combined!
There’s a lot of confusion about the retirement plan and IRA rules. Recently, we were made aware of two cases where the attorneys didn’t know how an IRA should be split in a divorce and incorrectly used the employer retirement plan rules when drafting the documents used to divide the IRA.
If you hold illiquid assets inside an IRA, here are three potential solutions to consider that can be used to help you avoid any RMD problems once you turn 70 ½.
If you have a Roth IRA, you may want to move it to a different IRA custodian. Whatever the reason, you can move your Roth IRA funds to another Roth IRA at any time. There are two ways to do that; using a rollover or a transfer.
We are down to the last two months of the year. It is time for those who have required minimum distributions (RMDs) from a retirement plan to make sure that those distributions are taken. Following is a list of those who have required distributions for the year.
This week's Slott Report Mailbag examines some key IRA questions, especially as we creep ever closer to year-end. What is the magical end date to make a 2014 Roth conversion? Can I take the total of my RMDs (required minimum distributions) from one IRA? And finally, we touch on a key planning point involving inherited IRAs and trusts.
A recent survey by TIAA-CREF revealed some startling data. Over one-third of those surveyed either did not know what an IRA is or the difference between an IRA and an employer-sponsored plan. That’s not good news and needs to be fixed. So, with that in mind, below are 5 key differences between IRAs and employer-sponsored retirement plans.
The IRS issued a news release (IR-2014-99) that announced the 2015 cost-of-living adjustments (COLAs) for IRAs and other retirement plans. While many of these limits increased, some did not.
Can you mix your IRA and personal funds? Sometimes companies offer their investment products on sale. You might get a small cash bonus, a higher interest rate, or cash back if you invest today or by the end of the month when the offer ends. You might want this investment in your IRA because the investment, or the deal, is just that good. But here’s the problem. You can’t get your IRA funds out of your current investment into this new one that’s on sale before the sale ends. What are you going to do?
