by fwsadmin | Jun 13, 2024 | IRA Blog
QUESTION: At age 80, after I take my required minimum distribution (RMD), can I then do a rollover from my IRA to my Roth IRA? If I can, is there a limit as to how much? I know that it is all taxable. Thanks, John ANSWER: John, Once your RMD has been satisfied, yes,...
by fwsadmin | Jun 12, 2024 | IRA Blog
After more than two years, we might actually soon be getting answers from the IRS on several important unanswered questions concerning required minimum distributions (RMDs) for those who inherit IRAs or company plan accounts. The 2019 SECURE Act completely changed the...
by fwsadmin | Jun 10, 2024 | IRA Blog
We are surrounded with information – and misinformation. Finding accurate up-to-date facts is increasingly difficult. Do an internet search and you will likely run into obsolete websites that have not been updated in years, paywalls demanding you subscribe before...
by fwsadmin | Jun 6, 2024 | IRA Blog
Question: When can we expect final SECURE Act regulations from the IRS? Mike Answer: Hi Mike, No one knows for sure. However, there is now some hope that these may be coming sooner rather than later. In recently released Notice 2024-35, the IRS said that final...
by fwsadmin | Jun 5, 2024 | IRA Blog
As retirement account questions go, this is the shortest inquiry with the longest answer. When asked what factors to consider and what 5-year clocks apply with a Roth 401(k) to Roth IRA rollover, I take a big breath and say, “Pull up a chair.” There are a number of...
by fwsadmin | Jun 3, 2024 | IRA Blog
A recent government report highlights how confused 401(k) participants are when they have to decide what to do with their savings after leaving employment. Tax rules require401(k) plans (and 403(b) and governmental 457(b) plans) to provide a written notice when...