IRA — Articles — Ascensus

Primary and Contingent Beneficiaries and the Myth of “They’ll Just Share It”

One of the most misunderstood parts of beneficiary designations is the difference between primary and contingent beneficiaries.

IRAAscensusDecember 18, 2025IRA, IRS, Roth IRA, Beneficiary

SEPs Remain a Valued Retirement Plan Option

The simplified employee pension, or SEP, is a retirement plan that—like the Energizer bunny of TV commercial fame—just “keeps going and going and going.” That’s because the retirement saving niche SEPs have occupied since their creation by the Revenue Act of 1978 remains a substantial one.

IRA, Employer PlanAscensusDecember 18, 2025SEP Plan, IRA, Retirement Plan, Qualified Retirement Plan, Profit Sharing Plan

RMD Statements — What’s Required?

January is a hectic tax reporting month for many financial organizations. In addition to providing quarterly or year-end statements, financial organizations must provide required minimum distribution (RMD) statements to certain Traditional and SIMPLE IRA owners by January 31. If you haven’t already, now is the perfect time for you and your team to start preparing for the busy month ahead.

IRAAscensusDecember 18, 2025Required Minimum Distributions, IRA, Roth IRA, Beneficiary, Reporting

Understanding IRA Contributions

Financial organizations field a lot of IRA questions from clients, and many of the same ones seem to come up repeatedly. Here are some common IRA contribution questions you’re likely hearing at your branch office, over the phone, or in your inbox.

expert, IRAAscensusDecember 18, 2025IRA, Required Minimum Distributions, Roth IRA, Eligibility, 401(k) Plan, Contributions

IRS Releases 2026 Cost-of-Living Adjusted Retirement Savings Limitations

The IRS has issued Notice 2025-67 on November 13, 2025, which contains the 2026 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).

IRA, Employer PlanAscensusNovember 20, 2025IRA, IRS, Traditional IRA, Roth IRA, Retirement Plan, Qualified Retirement Plan

Simultaneous Death Laws Can Impact Retirement Savings Inheritance

There are circumstances when the actual order of death cannot be positively determined. Why does this matter? The order of death may determine whether an IRA or retirement plan account becomes the property of a contingent beneficiary, versus a primary beneficiary’s estate. Sometimes the financial stakes can be quite high.

IRAAscensusNovember 20, 2025Beneficiary, Distribution, Qualified Retirement Plan, IRA, Traditional IRA, IRS

Unraveling the Mystery of Roth IRA Distributions

The rules surrounding Roth IRAs can be complex, and somewhat confusing to the average taxpayer. Let’s clear up some of the common misconceptions surrounding Roth IRAs.

IRAAscensusNovember 20, 2025Roth IRA, Distribution, IRA, IRS

IRA Transfer vs. Rollover: The Retirement Move That Trips Up Savers

When it comes to saving for retirement, most people understand the basics. They set up an IRA, begin making contributions, and let the balance grow. The stumbling block tends to happen later, when it’s time to move those funds. That’s when your clients hear terms like “transfer” and “rollover,” and may end up doing the exact opposite of what they should.

IRAAscensusOctober 16, 2025IRA, Roth IRA, Reporting, Rollover, Transfer, Traditional IRA, IRS

Fall is the Perfect Time for Teens to Put Summer Job Money to Work in a Roth IRA

For many teens, those summer paychecks can be more than just spending money. They can actually be the key to starting one of the smartest financial habits around: contributing to a Roth IRA.

IRAAscensusSeptember 18, 2025Roth IRA, IRS, IRA, Business Insights

When and How do Retirement Savings and Spousal Consent Intersect?

A marriage begins with the intention that the relationship will endure—the reality of divorce and separation statistics notwithstanding—and that a couple’s retirement years will be spent together. Consequently, it’s easy to understand why laws give special consideration to spouses when it comes to their entitlement to financial resources intended to provide retirement security.

IRA, Employer PlanAscensusSeptember 18, 2025Beneficiary, IRA, Retirement Plan, 401(k) Plan, 403(b) Plan

Calculating Earnings for Timely IRA Excess Removals and Recharacterizations

The deadline for removing 2024 excess contributions and completing recharacterizations is on the horizon. An IRA owner has until his tax return due date, plus extensions, to remove an excess contribution or recharacterize a 2024 contribution.

IRAAscensusAugust 21, 2025Excess Contribution, Distribution, Traditional IRA, Roth IRA, IRA, IRS

How to Calculate Life Expectancy Payments on Inherited IRA Assets

Financial organizations are not required to send notices to clients or report to the IRS when an annual payment must be taken from an inherited IRA. The beneficiary is responsible for knowing and taking any required life expectancy payments.

Although not required, many financial organizations assist their clients with this calculation.

IRAAscensusAugust 21, 2025Beneficiary, Distribution, IRA, Traditional IRA, Roth IRA, Required Minimum Distributions

Retirement Investments and NUA Tax Treatment

Most pretax retirement savings are taxed as ordinary income, taxed at one’s marginal tax rate. But under specific circumstances employer securities can be taxed differently.

Employer PlanAscensusAugust 21, 2025Traditional IRA, Qualified Retirement Plan, Retirement Plan, IRA

Key Changes in OBBBA Enhance Saving Options

The One Big Beautiful Bill Act (OBBBA), passed by Congress on July 3, 2025, introduces several significant changes aimed at enhancing retirement savings options and financial security for individuals. Here are the key provisions that retirement savers should be aware of.

IRAAscensusJuly 17, 2025IRA, Tax, Education, Guidance & Legislation

SIMPLE IRA Plans: They Aren’t Always So Simple

Ironically, given their official name, SIMPLE IRA plans have a number of elements that are anything but simple. Congress has altered the governing rules from time to time over the last three decades. As a result, some would say that SIMPLE IRA plans—while still a fine small employer plan option—are getting less and less simple.

IRAAscensusJuly 17, 2025SIMPLE IRA Plan, IRA, IRS, Compliance and Operations

What You Need to Know When Accepting Inherited Retirement Assets

When clients bring inherited IRAs from other financial organizations to yours, your team must know which information to collect in order to ensure a smooth transition.

IRAAscensusJuly 17, 2025Beneficiary, Traditional IRA, IRA, Roth IRA, Required Minimum Distributions

Do-It-Yourself Compliance Audit

No one wants to be caught unprepared by an IRS audit. Because the best defense is a good offense, here are some tips and tricks to review your own files so you can learn what areas may need your attention.

IRAAscensusJuly 17, 2025Traditional IRA, IRS, IRA, SIMPLE IRA Plan, SEP Plan, Business Insights, Compliance & Operations

The IRA Guide to Summer Compliance and Review

Everyone loves a good summer to-do list and we’re here to help. It’s the perfect time to survey your IRA department and see how you’re doing and what can be improved or implemented.