Sep 30, 2024
By Ian Berger, JD IRA Analyst A big change made by the SECURE 2.0 Act of 2022 was adding a new statute of limitations (SOL) for the IRS to assess penalties for missed required minimum distributions (RMDs) and excess IRA contributions. On its face, it looks like...
Sep 26, 2024
Sarah Brenner, JD Director of Retirement Education Question: When an IRA owner dies after their required beginning date, can an eligible designated beneficiary choose either the life expectancy option or the 10-year payout rule? Answer: If an IRA owner dies on or...
Sep 25, 2024
By Sarah Brenner, JD Director of Retirement Education It happens. You have made a 2023 contribution to the wrong type of IRA. All is not lost. That contribution can be recharacterized. While recharacterization of Roth IRA conversions was eliminated by the Tax...
Sep 23, 2024
By Andy Ives, CFP®, AIF® IRA Analyst When presenting a particular section of our training manual, I usually make the joke that, “if we were playing an acronym drinking game, we would all be on our way to a hangover.” The segment is titled: “Missed stretch IRA...
