FAQs tagged as


  1. What's the difference between an individual retirement account (IRA) and an annuity?

  2. What's the difference between an individual retirement account (IRA) and a certificate of deposit (CD)?

  3. How Can I Fund A Roth IRA If My Income Is Too High To Make Direct Contributions?

  4. What are the differences between a 401K and an IRA?

  5. How do I retire?

  6. How do you plan for retirement if you have multiple employers? Can you combine retirement plans from multiple employers?

  7. My daughter would like to use some of her Roth IRA to pay for some current tuition fees and loans. Can she do this without a penalty?

  8. I have a 403(b) from a old employer. I would like to convert it to a 401(k). How can I do that?

  9. How can I start an IRA for my child?

  10. What are the exceptions to the premature withdrawal penalty rules for IRA accounts?

  11. Can I refuse a gift by providing a "Qualified Disclaimer," and what does this entail?

  12. What is the "stretch IRA" concept?

  13. What are the pros/cons of naming a trust as the beneficiary of a retirement account?

  14. Does it make sense to convert a Traditional IRA to a Roth when the market’s down?

  15. Which of the following accounts does ERISA cover?

  16. Is it wise to put an IRA account into a fixed or variable annuity?

  17. I overcontributed to my Roth, then lost half of this money to the market. Does the 6% penalty apply to my original contribution, or only what's left of it?

  18. How do I use a conduit IRA?

  19. Do I still have to pay penalties and taxes on money that I don't roll over from a DROP fund?

  20. We are in a 401(k) at work. Can we also do a Roth each year? If we can, can it also be deducted from our taxes?

  21. What are the penalties for withdrawing from my Traditional IRA less than a year after acquisition?

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

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

  24. 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

  25. I converted a Traditional IRA to a Roth. The conversion was a stock equity with a cost basis of $19,000 in the Traditional IRA. The day of conversion, the value was $34,000. Which amount should the brokerage house use for the 1099-R?

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

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

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

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

  30. 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?

  31. Can I establish more than one IRA?

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

  33. 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?

  34. 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

  35. Can IRAs be held jointly by spouses?

  36. 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?

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

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

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

  40. 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?

  41. 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?

  42. Can I borrow from an IRA without penalty?

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

  44. 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?

  45. 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?

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

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

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

  49. 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?

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

  51. 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

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

  53. 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?

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

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

  56. 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?

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

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

  59. Can an individual contribute to both a Roth IRA and a Traditional IRA in the same year?

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

  61. 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

  62. If an employee covered by a SIMPLE leaves his employer within the two-year period and his new employer doesn't have a SIMPLE, what happens to the plan? Can the employee roll it over without penalty, or keep it at the old company until the two years expire

  63. 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?

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

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

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

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

  68. 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?

  69. 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?

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

  71. 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

  72. 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?

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

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

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

  76. If I am no longer employed, can I roll over a 403(b) plan into an IRA?

  77. My Traditional IRA has been converted to a Roth IRA. Can I still make a qualified withdrawal as a first-time home buyer?

  78. Can a spouse who is not named as a beneficiary receive assets from an IRA?

  79. Once substantially equal periodic payments (SEPP) of an IRA have started, is the payment fixed each year, or does it fluctuate with interest rates? Can payments be monthly?

  80. I didn't record my Traditional IRA contributions. Is there a website that lists IRA contribution limits for past years?

  81. Are the deferred earnings in a SIMPLE IRA subject to FICA taxes?

  82. I am rolling my 401(k) into an IRA. After a year, can I convert this amount to a Roth IRA tax free?

  83. Is there a limit on how much I can move from my IRA to my Roth IRA?

  84. I work for two companies. How much can I contribute to each company's SIMPLE IRA?

  85. Is it possible to reverse an IRA? I received a QDRO and owe money to my ex-husband. Is it possible to reverse the QDRO, which was put into a CD Traditional IRA account, without incurring any type of penalty?

  86. If I pass away, will my retirement plan go to my spouse tax free?

  87. Are the distribution rules for 401(k) and 403(b) plans the same as those for IRA plans?

  88. Can the non-spouse beneficiary of an IRA name a successor beneficiary?

  89. I'm an 80 year old making increasing required minimum distribution (RMD) tax payments. I plan to convert my IRA to a Roth IRA and pay the taxes for the total RMD. Will I be able to withdraw funds from the Roth the year following the conversion? I understa

  90. What is the five-year waiting rule for Roth IRAs?

  91. I just learned that my 2004 and 2005 Roth IRA contributions are not allowed because my income exceeds the limits. Can I just withdraw the contributions plus earnings without penalty?

  92. I retired and transferred part of my pension distribution to a Roth IRA. If I am over 55, do I still qualify for the age 55 exemption?

  93. I want to roll over a portion of my retirement plan with my employer and I have been advised to ask for separate checks to account for pre- and after-tax amounts. What does this mean?

  94. Can I roll a Traditional IRA into a 529 college account for my grandchild?

  95. Can I convert non-deductible contributions made to my Traditional IRA to a Roth IRA without being taxed?

  96. I converted my former IRA to a Roth for tax purposes in 1998, so even though the tax was paid over four years, am I correct to assume that this is now mine to withdraw, if I like, at no penalty? I am 60 years old.

  97. If I am entitled according to my divorce decree to a percentage of my ex-husband's IRA, how can I receive the assets due to me into my own IRA without being taxed? Will he be taxed when he makes the transfer? Will the money he may have to pay in taxes the

  98. I plan to retire in March 2005 at the age of 59.75. When and what percentage or dollar amount can I start withdrawing from my SIMPLE IRA account?

  99. Can investment real estate be purchased within an IRA and, if so, are there any pitfalls?

  100. I am starting a limited liability company (LLC). I will be the sole member. Can I open an SEP IRA? How much tax-deferred money would I be able to contribute each year?

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