If you are thinking of buying an NFT (non-fungible token) with your IRA funds, you may want to reconsider. In Notice 2023-27, the IRS said that NFTs associated with “collectibles” are prohibited IRA investments. This could expose you to significant taxes and penalties.

SECURE 2.0 includes a provision that increases the starting age for RMDs to 73, eventually allowing some IRA owners to begin RMDs as late as age 75 in 2033! However, those who have already started RMDs before 2023 must continue.

Maybe you made a Roth IRA contribution for 2022 and then discovered your income was too high. You’d rather contribute to a Roth IRA or maybe not contribute at all. You can fix these issues by correcting your 2022 IRA contribution by the upcoming October 16, 2023, deadline.

Rollovers from work plans like a 401(k) to an IRA are as common as air travel. Typically, pre-tax dollars are moved into a traditional IRA, and any Roth dollars in the work plan are rolled to a Roth IRA.

The IRS delayed the effective date of the SECURE 2.0 rule requiring catch-up contributions by higher-paid older employees to be made on a Roth basis.

Many IRA assets will ultimately go to non-spouse beneficiaries. When these beneficiaries inherit the funds, special rules kick in. Inherited IRAs are not like your own personal IRA account. Here are seven rules for inherited IRAs that may surprise you if you are a non-spouse beneficiary.