Articles — Ascensus

Tax-Related Relief Granted for Alabama Disaster Victims

As a result of tornadoes, storms, and straight-line wind events in Alabama, the IRS has extended the deadline for affected victims to complete certain time-sensitive tax-related acts.

Successor Beneficiaries—an Untapped Market

Allowing successor beneficiaries to maintain an inherited IRA at your organization is an easy way to grow your IRA business. There are a few things to consider though.

IRAAscensusMarch 21, 2019Compliance & Operations, Business Insights, IRA, Beneficiary, Form 5498, Reporting

It’s Prime Time for IRA Deposits—Here’s Why

Your organization may be able to gain long-term clients and more deposits by promoting IRAs as an investment vehicle for every consumer group.

IRAAscensusMarch 21, 2019Business Insights, IRA, Rollover, Industry Trends & Statistics

More Than a Newsletter: A Tour of The Link

The Link can make administering your retirement, education, and health savings plans easier and help you grow your business. Tour The Link to learn how to find what you need—and what you may have been missing.

ESA, Employer Plan, HSA, IRAAscensusMarch 21, 2019Business Insights, IRA, HSA, Coverdell ESA, Retirement Plan

Family Coverage Does Not Mean “Family” HSA

Is a family HSA allowed? Can a family HSA be changed to a single HSA? Can an HSA be moved to a spouse’s HSA? What happens to an HSA once the HSA owner is no longer eligible?

HSA, expertAscensusMarch 21, 2019Compliance & Operations, HSA, Contribution, Eligibility, Q&A

Ineligible Contributions and Corrective Options

What causes an employer-sponsored retirement plan to have an ineligible contribution failure? What options are available for a plan to correct an ineligible contribution failure?

How to Navigate a Merger or Acquisition: Part II

Once a merger or acquisition has taken place, your organization may need to carry out additional tasks to complete the transition of your IRA program. Implementing a few standard procedures will help ensure that nothing is missed.

IRAAscensusFebruary 21, 2019Business Insights, Compliance & Operations, IRA, Documents & Amendments, Reporting

Familiar Retirement Reforms Still in Play

The Retirement Enhancement and Savings Act of 2019 (RESA) is the latest version of a retirement reform bill that, if passed, would make many significant changes to the retirement savings landscape.

Employer Plan, IRAAscensusFebruary 21, 2019IRA, Retirement Plan, Guidance & Legislation, Washington Pulse

2019 Road Map—What Retirement Savings-Related Changes May Be Ahead?

Looking at the road map for 2019, take note of what may be ahead for retirement savings-related changes. Here are some key items to watch for.

IRS Expands Circumstances for Recovering HSA Contributions

A recently released IRS information letter provides more answers to the question of whether an employer can recover erroneous HSA contributions made on behalf of its employees.

HSAAscensusFebruary 21, 2019Compliance & Operations, HSA, IRS, Contribution, Guidance & Legislation

For Those Struggling to Save, Funding an HSA Not a Matter of If But When

How can your HSA-eligible clients get the most from an HSA—even if they can’t contribute the most? By paying their HSA when they pay their medical bills. This can be an opportunity for your organization to drive HSA business.

HSAAscensusFebruary 21, 2019Compliance & Operations, Business Insights, HSA, Contribution

HSA and FSA: Two Distinctly Different Savings Plans

Is an HSA basically the same as an FSA? What are the advantages of contributing to either one? Can you contribute to both?

HSA, expertAscensusFebruary 21, 2019Compliance & Operations, HSA, Q&A

Employee Service Crediting: a Key Part of Plan Administration

For qualified retirement plan purposes, is crediting employee service important? Are there certain methods for crediting service and, if so, which one should be used? Can service with an employer ever be excluded?

Employer Plan, expertAscensusFebruary 21, 2019Compliance & Operations, Qualified Retirement Plan, Eligibility, Q&A

How to Navigate a Merger or Acquisition: Part I

Understanding how IRA programs are affected by a merger or acquisition—and what to do about it—can save your organization from compliance failures, hefty IRS penalties, and potential lawsuits.

IRAAscensusJanuary 17, 2019Business Insights, Compliance & Operations, IRA, Documents & Amendments

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?