Transfer — Articles

Handling Divorce Assets in Qualified Retirement Plans and IRAs: There Is a Difference

There are differences between how various retirement assets are treated in divorce. Qualified retirement plan assets can be distributed to a former spouse through a document known as a qualified domestic relations order. IRA assets subject to divorce proceedings are paid through a “transfer incident to divorce.”

Transfers Are Nonreportable; No Such Thing as Prior-Year Conversion; 12-Month Limit Only for IRA-to-IRA Rollovers

What should your clients do if an IRA-to-IRA transfer they’ve done is reported to the IRS? Are clients allowed to do prior-year conversions? Does an IRA-to-IRA rollover after a conversion of those same assets violate the one-per-12-month rule?

IRA, expertAscensusSeptember 16, 2021Compliance & Operations, IRA, Traditional IRA, Roth IRA, Conversion, Distribution, Form 1099-R, Form 5498, Rollover, Transfer, Q&A

IRS Publication Answers Some Questions and Raises Others

While the latest version of IRS Publication 590-B answered some outstanding questions brought about by the SECURE and CARES Acts, it also sparked some new questions.

10 Questions IRA Clients May Not Ask But Want You to Answer

Are your clients making decisions about their IRAs without a basic knowledge of the IRA rules and possible consequences or opportunities that may result? Here are some IRA questions that they may not think to ask but would want you to answer.

How Transfers and Rollovers Differ

How do transfers and rollovers differ? How are they reported to the IRS? What are the restrictions?

What to Know About ESA Transfers and Rollovers

How can Coverdell ESA assets be moved? Can ESA assets be moved after the child turns age 18? Who is a qualified family member for ESA purposes?

expert, ESAAscensusDecember 20, 2018Compliance & Operations, Coverdell ESA, Q&A, Rollover, Transfer