Quick Reference Tool: Distribution options for beneficiaries of IRAs when the IRA owner died before January 1, 2020.
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Quick Reference Tool: Current Traditional and Roth IRA contribution limits
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Quick Reference Tool: Distribution options for beneficiaries of IRAs when the IRA owner died on or after January 1, 2020.
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Quick Reference Tool: Current contribution limits for employer-sponsored and IRA-based retirement plans.
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A Department of Labor bulletin announces a temporary non-enforcement policy stating that the DOL generally will not enforce the investment advice fiduciary guidance following action by the U.S. Fifth Circuit Court of Appeals to vacate its final regulations and exemptions package.
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The Securities and Exchange Commission (SEC) issued proposed guidance for broker-dealers and registered investment advisors who make recommendations to retail clients. Now that the DOL conflict-of-interest (fiduciary) regulations are vacated, this SEC guidance remains the standard for broker-dealers who make investment recommendations.
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Are we required to notify IRA clients who came to us from an acquisition that we are the new trustee? What should I do if the IRA documents are missing? Do we need to do anything regarding the SEP plans that were established with the previous organization if we do not offer SEP Plan documents?
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Financial organizations are responsible for making accurate separate accounting available for IRA beneficiaries. Properly establishing separate accounts provides more options for multiple beneficiaries.
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Individual retirement accounts (IRAs) hold one-quarter of all retirement plan assets in the U.S., yet only a small percentage of IRA owners contribute to their IRAs each year, according to an analysis of IRA data by the Employee Benefits Research Institute (EBRI).
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Consistently filing incorrect information returns is a red flag to the IRS, prompting questions, a possible IRS audit, and potential financial organization penalties.
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Taxpayers with income too high to make Roth IRA contributions need not rule out Roth IRAs in their retirement planning strategies. They can use other methods to fund Roth IRAs—retirement plan rollovers, IRA conversions, and the backdoor Roth.
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The 5th Circuit U.S. Court of Appeals has reversed a district court’s 2016 ruling in favor of the Department of Labor (DOL) fiduciary regulations, stating that the DOL exceeded its statutory authority in issuing its fiduciary regulations.
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We are considering offering additional investment opportunities. What are the limitations? Are life insurance and collectibles the only two investments prohibited in an IRA?
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Budget Act of 2018 makes important changes to retirement plans and IRAs, including tax relief for California wildfire victims, hardship distribution rules relaxed, and changes to portability rules.
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The IRS announced a late change for 2017 Form 1099-R reporting of IRA and retirement plan qualified hurricane distributions. The IRS is not, however, requiring reporting corrections.
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IRA compliance is a big responsibility for financial organizations that administer IRAs, and mistakes do happen. Here are common errors that Ascensus® consultants have found during financial organization IRA compliance reviews.
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Tax reform legislation no longer allows taxpayers to undo their IRA conversions and retirement plan rollovers to Roth IRAs, which both have potential for heavy tax hits. Here’s a look at recharacterizations during this 2018 transition year.
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Traffic at financial organizations picks up soon for IRA and health savings account (HSA) contributions. Individuals can start making 2018 contributions, but preparing their 2017 income tax returns often prompt them to make prior-year contributions.
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