FAQs tagged as


  1. I stopped distributions from my retirement account while under Rule 72(t). Will this have any effect on future distributions that I do take? Am I subject to the 10% penalty?

  2. Can an IRA owner disclaim his widow's account but exclude one spendthrift contingent beneficiary?

  3. Is my non-qualified Roth IRA distribution subject to taxes or early distribution penalties?

  4. I want to close my IRA account. What percentage will I lose to tax?

  5. Can I roll my 401(k) and/or IRA funds into a more liquid investment fund without penalty?

  6. I have conservative views on investing. How should I go about investing in a Roth IRA?

  7. Can my spouse and I convert our IRAs to Roth IRAs regardless of earned income?

  8. My husband has become eligible for a 401(k) plan (with no matching contribution) at work. How do we get back the $9,000 that we already contributed to our IRA for 2005 without a penalty? My husband earns $144,000/year and we're both over 50 years old.

  9. I am retiree, drawing from my 403(b) annuity. I am the sole employee of my own business. Do I qualify for a SIMPLE IRA account? I want to defer some of my income from taxes.

  10. My spouse is the primary beneficiary of my IRA. I also have a contingent beneficiary. Can my spouse still transfer my IRA assets tax-free to her own IRA?

  11. Will I incur a tax penalty when making withdrawls from my IRA in excess of my SEPP?

  12. Can I return funds to my Roth IRA after I have taken it as a distribution?

  13. What's the best kind of IRA for a 20-something?

  14. As a temporary resident of the US, can I withdraw funds from my Traditional IRA without penalty when I leave the country?

  15. Can an IRA be used as security for a loan?

  16. I am a teacher in a public school system and I don't presently have a 403(b) plan, but I do have some money in a Roth IRA and also a self-directed IRA. Can I roll my IRA funds into a newly opened 403(b) plan, since I am presently employed by the school sy

  17. Which amount should the brokerage use for the 1099-R?

  18. How can I make sure that past IRS errors have been corrected?

  19. What are the rules and reporting requirements for a rollover of a required minimum distribution (RMD)?

  20. What's the difference between a savings account and a Roth IRA?

  21. Are there special benefits for U.S. armed forces personnel?

  22. I have several CDs in my IRA with different maturities. Can I roll them over to another institution with a better rate as they mature?

  23. Can I establish more than one IRA?

  24. Can I move my IRA to a better income-producing opportunity?

  25. What do you do for a non-spouse beneficiary receiving a required minimum distribution (RMD) when the plan terminates? Is the purchase of an annuity the only option? Any thoughts on whether an IRA could be opened?

  26. My uncle died recently. He designated my mother and father as his beneficiaries in 1997, after his divorce, and did not make any changes after he remarried in 2000. My uncle's current spouse is now fighting for money from the plan. Does she have a leg t

  27. Can IRAs be held jointly by spouses?

  28. If a trust is named as the beneficiary of an IRA, can the trustee of that trust become the beneficiary without the IRA owner signing the Change of Beneficiary form?

  29. What does the Pension Protection Act of 2006 say about charitable contributions?

  30. What are the exceptions to the early distribution penalty for a non-qualified Roth IRA distribution?

  31. What is the difference between a ROTH, SEP and Traditional IRA?

  32. Can either a SEP IRA or a SIMPLE IRA be attached in a bankruptcy or malpractice action, or are they safe from any financial judgments like these?

  33. Can I pull out most of my assets from my IRA and use the cash as long as I replace it in the IRA within a year?

  34. Can I borrow from an IRA without penalty?

  35. What is a good book on creating a trust that would qualify as the beneficiary for an IRA?

  36. I have a small business, and I'm considering setting up an SEP IRA. What are leased employees? Does this term refer to outside contractors who receive 1099-Rs? If so, how would the 5305-SEP need to be worded to make it acceptable to the IRS?

  37. I want to purchase a five-year period certain single premium immediate annuity (SPIA) with my IRA account. I'm 53. Will the 10% penalty apply?

  38. Can my spouse and I combine our Traditional IRAs?

  39. I inherited a Roth IRA. What are my options for taking distributions from the account?

  40. What is the difference between a Keogh and an IRA?

  41. I understand that I can withdraw from a 401k the year I turn 55 without the 10% penalty (IRS 575). Can I do the same thing with an IRA without the 10% penalty?

  42. Does participation in a 401(k) plan prevent an individual from contributing to a Traditional IRA?

  43. My wife and I both converted our Traditional IRAs to Roth IRAs in Dec 1998 and have invested the maximum amount each year to date in the Roth. I am purchasing a new home in January. Do my wife and I each qualify for a one-time, tax-free $10,000 "qualified

  44. How do I sign up for the saver's tax credit?

  45. Earnings within a Roth IRA are tax free, so are these earnings included in the modified adjusted gross income which is used to determine Roth IRA eligibility?

  46. I have several jobs. Can I contribute the maximum to multiple employer retirement plans?

  47. What will happen to my SEP IRA if I leave my current employer?

  48. I have two Roth IRAs, one of which has a balance that is much less than the total contributions I have made to the account. Can I write off the losses for that account?

  49. I'm worried about the economy and want to move my IRA funds from stocks and bonds to cash. Will I taxed for this?

  50. What are some of the features and benefits of SEP IRAs and Roth IRAs?

  51. Can a person who is retired continue to fund an IRA?

  52. I make over $100,000/yr and my adjusted gross income precludes standard IRA contributions. My contributions to my 401(k) plan at work are limited to about $7,000/yr. It seems I'm being penalized for my income. Are there other retirement savings options av

  53. I am in the second year of taking SEPP distributions from my IRA. Can I transfer some of the funds to a new IRA with different investment options?

  54. Do I have to continue SEPPs for an inherited IRA?

  55. Are any special forms or documents required when transferring an IRA/SEP/SIMPLE to a Traditional IRA?

  56. I am self-employed and do not need most of my IRA RMD for expenses. Can I reinvest it in Roth IRAs?

  57. Is it permissible for a 70-year-old person to buy an IRA?

  58. If an individual still has his or her former spouse as the beneficiary of an IRA, does the former spouse receive the assets upon the individual's death?

  59. I've heard that workers who don't roll over their 401(k)s after retiring face some problems related to estate planning. I was told it was some type of final 2002 government regulation. Is this true?

  60. Is divorce an exception to the SIMPLE IRA's two-year waiting period rule?

  61. What procedure applies to a taxpayer who made excess contributions for 2001, 2002, 2003 and 2004 and has neither withdrawn the excess and the earnings for 2001-2003, nor recharacterized 2004 to a Traditional IRA? How are multiple years such as this to be

  62. My company has three partners but plans to hire more this year. Would we be better off with an SBO-401(k) or a SIMPLE IRA?

  63. Can my spouse and I use our IRAs to purchase our first home?

  64. Can I contribute to both a 401(k) and an IRA?

  65. Can I return funds to my Traditional IRA after taking a distribution?

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