FAQs tagged as

Retirement

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

  2. Can I have a self-directed IRA or Roth IRA using the forex market?

  3. Where can I find information on multiple annual additions for someone employed by more than one unaffiliated company?

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

  5. After receiving a required distribution when and how are my taxes affected?

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

  7. What are the income limits for Roth IRA contributions?

  8. My company is the trustee of our 401k plan (which has 112 participants). What are the pros and cons of having the company instead of the plan provider/vendor as the trustee?

  9. Can I borrow from an IRA without penalty?

  10. Are there tax penalties for closing my Roth IRA account?

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

  12. I participate in a profit-sharing plan at work. If I retire at age 62, will I be able to withdraw the money tax-free, or must it be rolled over to another account or plan?

  13. I deducted my IRA contribution on my tax return but failed to transfer the funds. What do I do?

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

  15. 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?

  16. I failed to distribute an inherited 401(k) that was found in an audit. What happens now?

  17. I am in my mid thirties and have nothing invested for retirement. Is it too late to start contributing for a retirement plan?

  18. 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.

  19. 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?

  20. 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

  21. I made involuntary contributions to a retirement plan while temporarily employed. Can I withdraw these funds without penalty?

  22. My mother inherited my father's IRA. When she died, I received an account application listing me as the beneficiary, as well as notice that my brother and I will have to take my mom's required distribution. My brother is nowhere to be found. How should I

  23. 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?

  24. If I roll my annuity into an IRA and receive after-tax distributions, will this be considered taxable income?

  25. 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?

  26. Can I roll the funds in an SEP-IRA over to a profit-sharing plan or self-directed retirement vehicle?

  27. Can I roll over a profit-sharing plan to an SEP IRA account without suffering any tax penalties and liquidation of current positions held in this account?

  28. Can you have a 403(b) and also contribute to a 401(k)?

  29. Is my husband's ex-spouse entitled to receive my spouse's retirement benefits?

  30. Upon my death, will the beneficiaries of my IRA be compelled to take the entire amount in the IRA as ordinary income, forcing them into unusually high income tax brackets?

  31. What is the difference between a Traditional and a Roth IRA?

  32. 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?

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

  34. Do I need to hit my 401(k) contribution limit before I can begin making catch-up contributions?

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

  36. How long does an IRA beneficiary have to take an RMD after the IRA holder dies?

  37. 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?

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

  39. Can I, without tax penalties, use the IRA I inherited from my father to buy a home that I will live in? He was 72 and had started taking small payouts on it.

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

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

  42. I am the beneficiary of an IRA and a Keogh. Can I combine them into one plan?

  43. If an IRA owner dies after starting required minimum distributions (RMD) but the spouse is under 70.5, can the spouse roll over the IRA into his/her own IRA, and stop RMDs until age 70.5?

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

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

  46. Can I roll my 403(b) and 457 into other low-cost venders when I change jobs?

  47. I didn't earn any income this year. Can I still contribute to a Roth?

  48. Can I hold non-dollar currencies in my retirement fund?

  49. My spouse has little/no income. Can I contribute to my spouse's IRA?

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

  51. I am considering taking a loan from my qualified retirement plan. What is the definition of a "reasonable interest rate"?

  52. If I participate in my company’s SIMPLE IRA plan, can I also contribute to another IRA in order to receive a larger tax deduction?

  53. I am making after-tax contributions to an IRA. Will I get taxed again when I withdraw it (when eligible)?

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

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

  56. How can I reduce the taxes on my inherited retirement assets?

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

  58. Why should investors pick less risky investments as they approach retirement?

  59. Can I establish more than one IRA?

  60. My old company offers a 401(k) plan and my new employer only offers a 403(b) plan. Can I roll over the money in the 401(k) plan to this new 403(b) plan?

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

  62. When should I take my Canadian Pension Plan distributions?

  63. My certificate of deposit (CD) has just matured and I plan to contribute $10,000 of it to my current Roth IRA account. The person doing my taxes can't tell me why I can't make such a large contribution except for my low income - I am a disabled veteran on

  64. Can I roll over my IRA assets to a sheltered Canadian plan?

  65. 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?

  66. Is an employee eligible for an SEP if the plan has already been set up for other employees?

  67. How do I get credit for my retirement plan contributions?

  68. Can I give stock as a gift?

  69. Can I roll my SEP IRA into a Traditional IRA or should I convert to a Roth?

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

  71. 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?

  72. I recently and accidentally established a Roth IRA for my spouse instead of myself and contributed additional monies. What should I do?

  73. 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

  74. I am a first-time home buyer. If I take a distribution from my 401(k) to purchase land and a house, will I have to pay a penalty on this distribution? Also, what kind of form will I need to file with my taxes, showing the IRS that $10,000 went toward a ho

  75. 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.

  76. Can I fund a Traditional IRA, a 403(b) or a Roth IRA using pension money? I'm 56 years old. What limits apply if I can?

  77. What are the tax consequences of a Roth IRA distribution if the IRA holder is younger than 59.5?

  78. 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?

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

  80. I'm 70.5 and still working for my own company. Can I defer starting my required minimum distributions?

  81. Health problems caused me to take my RMD after the deadline. Can I appeal my case to the IRS?

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

  83. 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?

  84. I will be receiving monies from a QDRO executed pursuant to my divorce. I would like to take a portion of the money as a distribution to pay for a new home. What are the tax implications of doing this?

  85. Does the five-year rule apply if a non-spouse inherits an IRA after the required beginning date and the required minimum distribution is not satisfied in the year of death?

  86. 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?

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

  88. 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.

  89. I earn more than the income limit for both a Roth and Traditional IRA deduction. Should I contribute anyway?

  90. 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?

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

  92. Should I start taking my RMD based on the amount in my account when I turn 70.5?

  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. What types of plans allow catch-up contributions?

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

  96. I overcontributed to my 401(k). What are my options?

  97. What are the "certain requirements" that must be met for substantially equal periodic payments (SEPPs)? Is it taxed at 20%? Is there any downside to the SEPP?

  98. Can a simplified employee pension (SEP) IRA be converted to a Roth IRA in the same manner that a Traditional IRA can?

  99. My husband has a 401(k) account which is 100% vested with an $8,000 balance. We are in foreclosure and need a hardship withdrawal. The investment management company which handles my husband's account says we can't withdraw anything because we have not con

  100. 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

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