For years Ascensus has provided a full range of defined contribution plans—including 401(k) profit sharing, money purchase pension, and individual 401(k) plans. Last year we expanded our document suite and will further expand in 2024.
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No one likes to make mistakes. And let’s face it, it can be embarrassing when tax reporting errors are brought to your attention by a client, or even worse, by an IRS agent.
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If your organization is like many in the industry, you’ve held off on team training and other onsite visits in recent years. You may have added new team members, but they haven’t been able to experience the face-to-face IRA training that they need.
Maybe it’s time for a refresh for everyone, including your IRA program.
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Financial organizations that serve as an IRA trustee or custodian are tasked with many responsibilities to maintain compliance. One of those responsibilities, which can carry hefty penalties if an organization is found to be noncompliant by the IRS, involves federal tax withholding requirements on IRA distributions.
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Today’s consumers want easy access to their accounts and when it’s convenient for them.
We get it. And we have the perfect solution to help your clients gain more independence over their IRAs. It will also help lighten the load for you and your staff.
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There’s nothing like health savings accounts (HSAs) on the market today. Your clients can use HSAs to save money for current and future healthcare costs and as a long-term investment vehicle in their overall retirement savings strategy.
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Quality consumer education is one of the most effective marketing tools that you can deploy as part of your business strategy.
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Withholding is a key area of IRA compliance and the penalties associated with failing to timely provide withholding notices to clients are costly. For example, the penalty for failing to timely provide a withholding notice is $100 per failure up to a maximum annual amount of $50,000. Ouch.
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As we prepare for Ascend 2023, let’s look back at what we learned at Ascend last year from you.
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If traveling isn’t an option for your organization, you and your team can still benefit from face-to-face training with Ascensus’ experienced and knowledgeable instructors and engaging curriculum.
Let us come to you.
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With the New Year fast approaching, your clients will have more questions about their IRAs, retirement plans, and education and health savings accounts. Are you prepared?
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Providing consumer education content is one of the most effective marketing strategies that a financial organization can deploy. Creating quality educational materials that also promote your product offerings allows you to engage your clients, providing another connection to build trust and strengthen relationships.
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Making sense of new guidance is no easy feat. For example, the proposed RMD regulations, released by the IRS in late February, is a hefty 275-page document. Who has the time to read and analyze this?
We do.
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Some days, the responsibilities of maintaining IRA compliance can feel like a heavy lift. But it’s especially important to stay on top of withholding notice requirements. Withholding remains a key area of IRA compliance, and the costs associated with failing to timely provide withholding notices to clients can be steep.
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The Cycle 3 qualified retirement plan restatement deadline is fast approaching. If you’re an employer plan sponsor who has not taken action yet, or if you’ve gone through the restatement process but you’ve forgotten to sign and return documents, this message is for you.
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IRA reporting requirements seem to grow more complicated each year. Financial organizations are noticing an uptick in the number of repayment and postponed contribution options on IRS Form 5498. Let us help you avoid any confusion—and unnecessary errors.
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Your clients have questions about their IRAs, retirement plans, health and education savings accounts. Providing quality consumer education content to your clients on the topics they are interested in is a simple, yet effective way to help them build their knowledge and promote your product offerings.
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The costs associated with failing to timely provide withholding notices to clients can be steep. Now is the time start preparing to mail your IRA owners their withholding notices—before many of them begin taking IRA distributions in January.
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Perhaps the most notable change in the last year and a half was not being able to do business or connect with clients in person. Well, whenever you’re ready—and with your health and safety in mind—our experts look forward to connecting with you in person again with on-site Ascensus training and service offerings.
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In June we asked you to test your HSA knowledge by taking a short quiz. From the results, we noted some confusion about qualified medical expenses—those expenses that would generally qualify for a medical and dental expense deduction—that can be paid for from an HSA.
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