Advisers can avoid all of these 60-day rollover issues by using only direct trustee to trustee transfers whenever possible.
Filing late used to be difficult and costly to correct, but new rule alleviates a lot of the pain.
Make sure clients are accessing their accounts or otherwise taking steps that would deem their accounts active.
If clients don't need the income, here are some ways the money they must take can be put to good use.
IRA basis is required to be tracked on IRS Form 8606 “Nondeductible IRAs,” which is filed with a client's tax return.
Roth IRAs offer significant tax benefits, but these transactions are on the Internal Revenue Service's radar.
A recent court case illuminates the possibility of a pension benefit going back to the plan if the right legal documents are not in order.
Share these timely IRA reminders with your clients and their CPAs.
The IRS has increased its fees to request private-letter rulings (PLRs) for extensions upon missing two common retirement deadlines: 60-day rollovers and Roth recharacterizations.
