Matt Smith

IRA Rollovers and Paying for College with a 401(k): Today’s Slott Report Mailbag

Question: Hi Ed: I have been reading you for more than 20 years – thank you for all your contributions to our industry. I have a client (about to be over 70 ½) whose new employer told him that he should roll all of his old employer plans and IRAs over to the new employer’s 403b plan (in which he is participating), for the purpose of avoiding having to take RMDs when he turns 70 ½.

IRS Updates the Special Tax Notice (Rollover Notice) for Qualified Plans

Qualified plans are required to provide participants with a number of notices and information. There’s the Summary Plan Description, the Summary Annual Report, annual safe harbor notices (if applicable), plan account statements (either quarterly or annually), and the Special Tax Notice for distributions.

Are Changes Coming to the IRA Rules?

After last year’s passage of the Tax Cuts and Jobs Act, which overhauled the tax code, you might think Congress would be done with tax legislation for a while. That is not the case.

Roth IRAs and the 5-Year Rules

We constantly see questions regarding the distribution rules for Roth IRAs. Personally, I’ve always thought that the failure to understand these rules prevents many from truly appreciating the benefits of these accounts.