IRA Alert

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Incorrect RMD notices may result in distributions that aren’t exactly ‘required’
RETIREMENT RETIREMENT PLANNING APR 03, 2023
Incorrect RMD notices may result in distributions that aren’t exactly ‘required’

The problem arose from the passage of the SECURE 2.0 Act late last year, which didn’t give financial institutions time to update their systems.

Want to do a 529-to-Roth rollover? Read the fine print
RETIREMENT RETIREMENT PLANNING MAR 06, 2023
Want to do a 529-to-Roth rollover? Read the fine print

Here’s why you need to read beyond the headlines and understand why this may be the most overhyped provision of SECURE 2.0.

SECURE 2.0 provides breathing room for RMDs
RETIREMENT RETIREMENT PLANNING FEB 06, 2023
SECURE 2.0 provides breathing room for RMDs

In addition to raising the age at which individuals must start taking required minimum distributions, the SECURE 2.0 Act also lowers the penalty for not taking an RMD.

RMD quirks that IRA beneficiaries face in '23
RETIREMENT RETIREMENT PLANNING JAN 09, 2023
RMD quirks that IRA beneficiaries face in '23

The provisions of the SECURE and CARES Acts, and the related IRS rules, are creating even more confusion about which beneficiaries are subject to RMDs this year.

Giving funds in IRAs to charity with QCDs
RETIREMENT RETIREMENT PLANNING DEC 09, 2022
Giving funds in IRAs to charity with QCDs

A qualified charitable distribution is a direct transfer of traditional IRA funds to a qualified charity.

Which beneficiaries are subject to RMDs by year-end?
RETIREMENT RETIREMENT PLANNING OCT 31, 2022
Which beneficiaries are subject to RMDs by year-end?

This list is longer than you might have thought, and it’s more confusing than ever before. And the penalty is still 50% if the RMD isn’t taken.

The IRS answers a crucial penalty question for missed RMDs
RETIREMENT RETIREMENT PLANNING OCT 10, 2022
The IRS answers a crucial penalty question for missed RMDs

The tax collector says there will be no 50% penalty for missed 2021 and 2022 RMDs for beneficiaries subject to the 10-year rule.

Taking RMDs in the form of stock
RETIREMENT EQUITIES SEP 20, 2022
Taking RMDs in the form of stock

Clients don't have to sell stocks in their individual retirement accounts to take their required minimum distributions.

Confusion about RMDs on inherited IRAs
RETIREMENT RETIREMENT PLANNING AUG 19, 2022
Confusion about RMDs on inherited IRAs

New IRS rules complicate the calculation of required minimum distributions for those who have inherited individual retirement accounts.

Update estate plans for IRAs with these 3 steps
RETIREMENT RETIREMENT PLANNING JUL 18, 2022
Update estate plans for IRAs with these 3 steps

Many clients aren't aware that plans they made long ago to leave individual retirement accounts to their beneficiaries may not work as intended, given the SECURE Act and recent IRS rules.

Stretch IRAs still exist for some beneficiaries
RETIREMENT RETIREMENT PLANNING JUN 07, 2022
Stretch IRAs still exist for some beneficiaries

Although the SECURE Act eliminated stretch IRAs for most beneficiaries, replacing them with the 10-year post-death payout rule, some beneficiaries can still use a stretch IRA.

Your RMD questions answered
RETIREMENT RETIREMENT PLANNING APR 20, 2022
Your RMD questions answered

New (and confusing) IRS rules about required minimum distributions raise new questions for advisers.

The new IRS 10-year RMD rule isn't what we thought it was
RETIREMENT RETIREMENT PLANNING MAR 24, 2022
The new IRS 10-year RMD rule isn't what we thought it was

The big surprise was the IRS' announcement that if an account holder dies after their required beginning date, required minimum distributions would be required for years one through nine.

Confusion about 2022 required minimum distributions
RETIREMENT RETIREMENT PLANNING FEB 11, 2022
Confusion about 2022 required minimum distributions

Should a client use old tables, new tables, both tables or no tables to calculate their RMDs this year? It depends ... and advisers need to know the answer.

Early planning on qualified charitable distributions can mean bigger tax savings
RETIREMENT RETIREMENT PLANNING JAN 13, 2022
Early planning on qualified charitable distributions can mean bigger tax savings

When required minimum distributions begin, QCDs can reduce or eliminate the income tax on the RMD income — if the timing is right.

5 ways to add value with year-end tax planning conversations
RETIREMENT IRA ALERT DEC 07, 2021
5 ways to add value with year-end tax planning conversations

As the end of the year approaches, here's a round-up of the best retirement tax planning ideas for 2021.

Tilt odds in clients' favor to win year-end Roth conversion bet
RETIREMENT RETIREMENT PLANNING NOV 04, 2021
Tilt odds in clients' favor to win year-end Roth conversion bet

Congress has retirement accounts in its sights for future tax increases, but financial advisers can help their clients make some defensive moves now.

Congress is going after the largest IRAs
RETIREMENT RETIREMENT PLANNING OCT 12, 2021
Congress is going after the largest IRAs

The proposals in Congress might not become law, but clients are hearing about them and want to hear from their advisers on planning moves they could make to be better prepared.

Court rules inherited 401(k) funds are protected in bankruptcy
RETIREMENT RETIREMENT PLANNING SEP 01, 2021
Court rules inherited 401(k) funds are protected in bankruptcy

A North Carolina Bankruptcy Court decided that inherited 401(k) accounts do indeed receive creditor protection under ERISA as long as the funds are still in the plan at the time of the bankruptcy filing.

IRA trustees wipe out an inherited IRA — their own
RETIREMENT RETIREMENT PLANNING AUG 03, 2021
IRA trustees wipe out an inherited IRA — their own

A lifetime of accumulation and growth goes up in smoke because the beneficiaries don’t know the IRA trust tax rules. Advisers can help their clients avoid such colossal blunders.