IRA Blog

RETURNING UNWANTED RMDS: TODAY’S SLOTT REPORT MAILBAG

By Andy Ives, CFP®, AIF® IRA Analyst Question: Client has a Thrift Savings Plan and took RMDs in January, February and March of 2020. Client then rolled the balance of the TSP into an IRA. Question is whether or not he can “repay” those RMDs to the IRA under Notice...

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3 RMD REPAYMENT REMEDIES ONLY AVAILABLE UNTIL AUGUST 31

By Sarah Brenner, JD Director of Retirement Education We are in the dog days of summer and this year is a crazy and unsettling time. The last thing on your mind may be your IRA. However, you should be aware that an important deadline is quickly approaching. If you...

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STOP NAMING TRUSTS AS IRA BENEFICIARIES!

By Andy Ives, CFP®, AIF® IRA Analyst Yes, trusts can play an instrumental role in estate planning. Yes, special needs trusts are invaluable to those with disabled or chronically ill family members. Trusts are essential for minors and for those who may struggle with...

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THE CARES ACT AND 2020 RMDS: TODAY’S SLOTT REPORT MAILBAG

By Ian Berger, JD IRA Analyst Question: I can't find the answer to this question anywhere, so I thought I'd go straight to the experts. Does the CARES Act waive the requirement for a surviving spouse to distribute the RMD in 2020 prior to re-registering the IRA in the...

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STRETCH IRA LIVES ON FOR SOME BENEFICIARIES

By Sarah Brenner, JD Director of Retirement Education Last year the SECURE Act became law and eliminated the stretch IRA for millions of IRA beneficiaries. However, for some IRA beneficiaries the stretch lives on. For most beneficiaries, the stretch is now replaced...

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ROLLOVERS AND INHERITED IRAS: TODAY’S SLOTT REPORT MAILBAG

By Sarah Brenner, JD Director of Retirement Education Question: I have a very simple ROTH IRA question. I borrowed money from my ROTH IRA with the intention of paying it all back in 60 days. To avoid any penalty, must I make one repayment of all the money I borrowed?...

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DEATH DURING A ROLLOVER

By Andy Ives, CFP®, AIF® IRA Analyst A financial advisor contacted me about her client who had recently passed away. The advisor was legitimately concerned about a rollover check received by the now-deceased individual. It had not been deposited into his IRA prior to...

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TAX RULES FOR ROTH 401(K) DISTRIBUTIONS

By Ian Berger, JD IRA Analyst With more 401(k) plans offering Roth contributions and more folks taking distributions from their plans, now’s a good time to review the tax rules governing Roth 401(k) distributions. Qualified distributions. If your Roth 401(k)...

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RMDS IN 2020: TODAY’S SLOTT REPORT MAILBAG

By Andy Ives, CFP®, AIF® IRA Analyst Question: Once the RMD’s for 2020 were suspended, I withdrew what would have been my RMD from my traditional IRA and deposited it in my Roth IRA.  Can I now withdraw that amount from my Roth and repay it to my traditional IRA?...

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