Articles — Ascensus

Why One-Size-Fits-All Marketing Approach Doesn’t Work With HSAs

Not all HSA owners use their HSAs in the same way. Find out why and how that can affect what your organization does to retain and grow your HSA business.

HSAAscensusJanuary 17, 2019Business Insights, HSA

The One-Per-12-Month Rollover Rule in Review

Still not clear on the one-per-12-month rollover rule? Here’s a quick review to better your understanding. Use it to help your IRA clients who may be contemplating a rollover avoid putting their IRA savings in jeopardy.

IRAAscensusJanuary 17, 2019Compliance & Operations, Traditional IRA, Roth IRA, IRS, Distribution, Rollover, SIMPLE IRA Plan

IRS Releases 2019 Forms 1099-R and 5498 Reporting Instructions

The 2019 instructions for IRS Forms 1099-R and 5498 are now available, with a few notable changes in addition to standard updates.

IRAAscensusJanuary 17, 2019Compliance & Operations, IRA, IRS, Form 1099-R, Form 5498, Guidance & Legislation, Reporting

How Transfers and Rollovers Differ

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

Failure to Remove an RMD from a 401(k) Plan Can Be Corrected

When must required minimum distributions (RMDs) from a 401(k) plan start and what is the annual deadline? What happens if RMDs are not timely distributed? Are there any correction options?

Potential Hardship Distribution Changes for 2019, 2020

Changes to the hardship distribution rules brought about by the Bipartisan Budget Act of 2018 and the IRS’ recently released proposed hardship regulations may affect your 401(k) and 403(b) clients.

IRS and DOL Issue Deadline Relief for California Wildfire Victims

Both the IRS and Department of Labor have provided their own guidance for tax-related deadline relief to those affected by the wildfires in certain California counties.

Roth IRA Can Help Pay Higher Education Expenses

Higher education expenses can be overwhelming, even for the most diligent 529 account savers. Some of your clients may want to consider supplementing their education savings with Roth IRA savings to help pay for college.

IRAAscensusDecember 20, 2018Business Insights, Roth IRA, Distribution, Education

Using HSA Savings for Long-Term Care

Looking for another reason to promote the HSA as a key financial planning tool for a more secure retirement? Consider sharing with your clients how they may be able to use their HSA savings to pay for long-term care expenses.

HSAAscensusDecember 20, 2018Business Insights, Industry Trends & Statistics, HSA

Retirement Plan VCP Corrections to Be Submitted Electronically Now

The IRS has modified its Voluntary Correction Program procedures under the Employee Plans Compliance Resolution System in a move to electronic filing and fee payments beginning in April 2019.

IRS Updates Acts that May Be Postponed Due to Disaster, Armed Forces Service

The IRS has updated its list of tax-related time-sensitive acts that may be postponed due to federally-declared disasters or service in the Armed Forces.

IRA Escheatment Guidance Transition Period Extended

IRS Notice 2018-90 extends the transition period to January 1, 2020, for satisfying withholding and reporting requirements when paying out an abandoned IRA to the state.

IRAAscensusDecember 20, 2018Compliance & Operations, IRA, IRS, Guidance & Legislation, Reporting, Withholding

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

Defining Compensation for 401(k) Plan Contributions and Testing

How is compensation defined for 401(k) plan purposes? How does the definition affect compliance testing? What time period is used for defining compensation?

expert, Employer PlanAscensusDecember 20, 2018Compliance & Operations, Retirement Plan, 401(k) Plan, Contribution, Q&A, Regulations

Happy 20th Birthday, Roth IRA!

The Roth IRA is 20 years old and still growing. Discover the latest trends, most recent statistics, and current developments surrounding this unique retirement savings tool.

IRAAscensusDecember 13, 2018Roth IRA, Industry Trends & Statistics, IRS

20 Years, 20 Facts

It’s been 20 years since the Roth IRA was created. Here are some quick facts about this popular retirement savings vehicle.

IRAAscensusDecember 13, 2018Roth IRA

Legislative History Defines the Roth IRA

The Roth IRA has evolved over the past 20 years as a result of its legislative history. Take a look at some of the more significant legislative developments since the Roth IRA was created.

IRAAscensusDecember 13, 2018Roth IRA, Guidance & Legislation

Mega Roth Strategy Could Benefit High Income Earners

The “mega Roth” strategy, a new approach to retirement saving, is a way for some retirement plan participants to maximize their savings using Roth IRAs or retirement plan designated Roth accounts.