FAQs tagged as

Retirement Saving Plan

  1. 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?

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

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

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

  5. 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?

  6. 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

  7. 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?

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

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

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

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

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

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

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

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

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

  17. 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?

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

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

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

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

  22. 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?

  23. What happens during the consolidation phase of an investor's life cycle?

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

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

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

  27. 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?

  28. 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?

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

  30. 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?

  31. What is cliff vesting?

  32. Can an employer adopt a different type of retirement plan for each employee?

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

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

  35. Is it easier to save for retirement if you start earlier in life? Can I make up for what I don't save now by contributing more later on?

  36. Are my IRAs secure against possible liens?

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

  38. 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?

  39. 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

  40. Will I pay taxes on my Social Security payouts?

  41. Can I deduct my Individual Retirement Account (IRA) contribution on my tax return?

  42. Can I contribute to a Roth IRA and still participate in my employer-sponsored retirement plan?

  43. At what age will I be eligible for the maximum Social Security payout?

  44. Can I take money out of my Individual Retirement Account (IRA) while working?

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

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

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

  48. What should you do when you're five years from retiring?

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

  50. How do I retire?

  51. What are Government Pension Offsets, and who is subject to them?

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

  53. Our broker switched firms in the middle of 2011. As a result we lost track of our required minimum distribution (RMD) amounts and ended up withdrawing much more than our RMD. Is there a way to defer some of the withdrawal to 2012 to avoid the tax liabilit

  54. What is the difference between qualified and non-qualified plans?

  55. The reason why ERISA qualified plans should have an investment policy statement is to:

  56. How do 401(k) loans work?

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

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

  59. I have a profit-sharing plan with my former employer. I am now trying to buy a home. Can I use my profit-sharing money to put a down payment on a house?

  60. How does an employer benefit from a 401(k) matching plan?

  61. What is the "stretch IRA" concept?

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

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

  64. What is the difference between early retirement and full retirement as it applies to Social Security retirement benefits?

  65. Which of the following accounts does ERISA cover?

  66. What is the "three-legged stool"?

  67. What is pension maximization?

  68. How do I use a conduit IRA?

  69. 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?

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

  71. Is a person an active participant in an employer-sponsored retirement plan if he or she was only active for a short time?

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

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

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

  75. 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?

  76. 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?

  77. 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?

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

  79. 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?

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

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

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

  83. 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?

  84. Can I borrow from an IRA without penalty?

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

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

  87. 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?

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

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

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

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

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

  93. 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.

  94. 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?

  95. 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

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

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

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

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

  100. 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?

Trading Center