The IRS recently released the 2020 cost-of-living adjustments. Many key IRA and retirement plan limits were increased for 2020.
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The IRS recently issued a notice of proposed rulemaking for updating life expectancy tables that are used when determining required minimum distributions.
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What is a trust and why would someone name a trust as an IRA beneficiary? What distribution options does a trust beneficiary of an IRA have? How are distributions to a trust reported to the IRS? Can the underlying beneficiaries of a trust set up their own inherited IRAs?
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What is a Sarbanes-Oxley blackout notice? What is a blackout period? What information must be included in the blackout notice? What are the potential consequences of not providing a timely blackout notice?
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For the next few months your organization may see an increase in RMD questions and transactions. Take a few minutes now to learn (or relearn) some basic RMD rules.
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An IRA owner’s decision to select a beneficiary appears simple, but complex issues may surface. Learn more about three key issues so that your organization can be prepared.
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The U.S. Social Security Administration has announced a cost-of-living increase for 2020 to several of its benefit amounts, including the Social Security taxable wage base.
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Two lawsuits have recently been filed seeking to invalidate the U.S. Securities and Exchange Commission’s new fiduciary standards.
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How are beneficiary payouts affected when a primary beneficiary dies after the IRA owner? How about when a primary beneficiary dies before the IRA owner?
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Can an IRA owner roll over more than one distribution into an IRA in one year? If not, is there another way to retain the assets in a retirement account? What is the 12-month period for purposes of the one-per-12-month rule?
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Like many low- to moderate-income Americans, many of your clients may struggle to pay for financial emergencies. A Roth IRA not only serves to supplement retirement income, but is also a great resource to draw from for unexpected expenses.
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The U.S. Government Accountability Office recommends that the IRS and the Department of Labor establish a collaborative means of overseeing and managing prohibited transaction exemptions.
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The Securities and Exchange Commission recently released a guidance package for broker-dealers and investment advisers who provide investment recommendations and investment advisory services to clients. The guidance clarifies the standard of conduct for investment advisers.
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The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 passed the House of Representatives. The Senate will now take up a similar bill—the Retirement Enhancement and Savings Act of 2019, or RESA. SECURE and RESA would make many significant changes to the retirement savings landscape.
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IRA rules can be difficult for IRA owners to understand, and even more confusing to their beneficiaries. As an IRA trustee, custodian, or issuer, you can help lessen the confusion that surrounds beneficiary distribution options.
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Can an IRA owner make a rollover contribution after the 60-day rollover deadline? How can a nonspouse beneficiary move inherited IRA or plan assets?
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When establishing an IRA, it can be easy to overlook a step or two, which could lead to compliance issues and jeopardize the tax-deferred nature of the account. Follow these steps to help ensure that your organization is setting up IRAs the right way.
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Does a Roth IRA owner have to wait five years before taking a Roth IRA distribution? What are the five-year waiting periods as they apply to Roth IRA distributions and how do they differ?
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