FAQs tagged as

Retirement

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

  2. 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.

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

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

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

  6. 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?

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

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

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

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

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

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

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

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

  15. Is my 403(b) account owned by me or by the institution?

  16. What are the requirements that a trust needs to meet to be qualified?

  17. 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?

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

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

  20. I own a small business. Can the SBO-401(k) work for me?

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

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

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

  24. My husband left his ex-wife as his retirement plan beneficiary. Can this be changed?

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

  26. Can I establish more than one IRA?

  27. 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?

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

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

  30. 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

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

  32. 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?

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

  34. Can high-income earners deduct yearly defined-benefit plan contributions of over $100,000?

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

  36. Can I give stock as a gift?

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

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

  39. 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?

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

  41. 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

  42. 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

  43. 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.

  44. 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?

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

  46. 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?

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

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

  49. Can I donate stock to charity?

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

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

  52. 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?

  53. 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?

  54. 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?

  55. 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?

  56. 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?

  57. 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?

  58. 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.

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

  60. 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?

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

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

  63. 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?

  64. What types of plans allow catch-up contributions?

  65. How can I get information about my deceased husband's retirement account if his employer withholds it?

  66. How do I "vest" something?

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