The IRS issued a revenue ruling stating how withholding and reporting is applied to IRA assets that are escheated to states.
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The IRS has issued proposed regulations that would alter the rules for electronic filing requirements of retirement and certain tax-preferred savings account information returns, which would require more filing entities to file electronically.
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What is a qualified charitable distribution (QCD)? Are there limits to how many QCDs an IRA owner may make in a year? How are QCDs treated when the IRA owner has nondeductible contributions in the IRA?
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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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