FAQs tagged as


  1. 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?

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

  3. 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

  4. 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

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

  6. I am only 17 years old. I don't have a job or pay taxes. Can I contribute to an IRA?

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

  8. I have just been laid off. Can I use my 401(k) for living expenses now and report it as income next year?

  9. Are my IRAs secure against possible liens?

  10. If there are two plans and one is terminated, creating a distributable event, can loans in the terminated plan be rolled over?

  11. What effect will a prenuptial agreement have on a 401(k)?

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

  13. I'm a teacher. Which is better for me, a 401(k) or 403(b)? What is the difference? From whom do I get these plans?

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

  15. The company I am working for said that 401(k) contribution can be based on only straight time pay! The company I previously worked for allowed me to contribute on gross earnings. Has the law changed, or is the current employer wrong?

  16. I have several Roth IRA conversions, each with different custodians. When I spoke to an IRS representative, he maintained that the total amount of the conversions is always available. He told me that at any time I can take out what I had paid taxes on (wi

  17. I'm having trouble getting my former employer to distribute my 401(k) plan balance to a rollover. Can you tell me the reasons why an employer might delay distributions and if there is a government agency I could contact to encourage the distribution?

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

  19. Can IRAs be held jointly by spouses?

  20. Can I add my higher income spouse's name to my Roth IRA in order to raise our contribution limits?

  21. 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?

  22. If a company undergoes an acquisition can an employee withdraw 401(k) funds tax free?

  23. Can I still set up an SEP if one of my employees refuses to participate?

  24. I have two jobs. Can I contribute to two SIMPLE IRA plans?

  25. I just opened an IRA. What can I do to help my money grow?

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

  27. I work for a university, and I have a 403(b) with TIAA-CREF. But TIAA-CREF says I cannot transfer money to another provider. Can they prevent me from transferring my money to a better investment?

  28. How do I go about opening up a Roth IRA?

  29. I am over 60 years old and have a Roth IRA to which I have made contributions for more than five years. Are all distributions tax free?

  30. Can 529 plans be used to transfer wealth to other family members if the original beneficiary does not use the money?

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

  32. 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?

  33. My spouse and I now earn more than the dual-income limit specified by our IRAs. What will happen to our previous contributions?

  34. I am 61 years old and would like to contribute to my employer's 401(k) plan. Is there an age limit?

  35. Can I contribute to my company-sponsored 401(k) after the company's year-end but before its tax-filing date?

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

  37. I have a small business (LLC), which I operate part-time. I also work full time for a company and am enrolled in a 401(k) plan. Am I still eligible to make contributions to an individual 401(k) from earnings of my part-time LLC?

  38. Can I leave my pension to my spouse when I pass away?

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

  40. What kinds of investments are allowed in a qualified retirement plan, and what kinds are forbidden?

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

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

  43. My 80-year-old mother used her Roth IRA assets to make an $11,000 annual gift tax exclusion. Will these still be considered Roth IRA assets?

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

  45. 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

  46. 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?

  47. 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?

  48. Can an IRA beneficiary roll the IRA over into another account and designate another beneficiary?

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

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

  51. How can I budget for both short-term expenses and long-term goals?

  52. How can a trust lower federal transfer tax liability?

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

  54. I do not want to totally get out of my retirement 401(k), but I want to take 72(t) distributions. What should I consider?

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

  56. My recently deceased spouse's IRA has been rolled over into mine. Does the cost basis change for me?

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

  58. What are some common and useful retirement planner designations? Are they expensive or difficult to obtain?

  59. 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

  60. 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?

  61. I have some stocks in a taxable account. Can I use them to fund my Roth IRA instead of using cash?

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

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

  64. Why should I bother creating a budget?

  65. What should I consider when I select an executor for my will?

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

  67. Who qualifies as "single" for tax or retirement purposes when spouses do not live together?

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

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

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

  71. I am 52 years old and wish to make a withdrawal from my 401(k) plan. Is there any way I can avoid having to pay additional tax on the grounds of hardship - e.g. unemployment?

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

  73. 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

  74. Should I put money into a retirement account even if it isn't tax deductible?

  75. I withdrew funds from my Roth IRA to contribute elsewhere. How will I be taxed?

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

  77. When am I not required to submit a social security number on my tax return?

  78. How does online banking assist with budgeting?

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

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

  81. 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?

  82. 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

  83. 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?

  84. 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?

  85. How do my siblings and I receive inherited pension benefit payments from our deceased parent?

  86. Who bears the investment risk in 401(k) plans?

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

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

  89. Can a creditor seize my retirement savings?

  90. What is estate planning?

  91. Can I close my existing Roth IRA and invest in a new Roth IRA at a different financial institution without a tax penalty?

  92. I'm about to retire. If I pay off my mortgage with after-tax money I have saved, I can save 6.5%. Should I do this?

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

  94. 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?

  95. I am 59 (not 59.5) and my husband is 65. We have participated in a SIMPLE IRA with our company for more than two years. Can we convert the SIMPLE IRA to a Roth IRA? If we can convert, do we have to pay tax on the SIMPLE IRA money placed in the Roth? Are t

  96. 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

  97. What is the best retirement plan option for a physician with her own practice, employees and a desire to fund her retirement without making things complicated? She'd like to avoid plans that rely on a stringent income test or require all employees to part

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

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

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

Trading Center