New Rules Loosen or Eliminate Documentation Rules for See-Through Trusts
The new required minimum distribution (RMD) rules recently issued by the IRS include some good news for trusts named as retirement account beneficiaries.
New Rules: Aggregating Year-of-Death RMDs
Aggregation rules tell us that a living person with multiple IRAs can calculate the annual RMD for each account, and then take the total RMD from any combination of their IRAs.
New IRA Aggregation Rule When Doing a Rollover in an RMD Year
If you have multiple traditional IRAs and want to do a 60-day rollover (or Roth conversion) in a year when a required minimum distribution (RMD) is due, the IRS has a surprise for you.
The Roth IRA Advantage Under The Final RMD Rules
In 2020, the SECURE Act completely changed the game for nonspouse IRA beneficiaries. Here is some good news if you are inheriting a Roth IRA.
Year-of-Death RMD - Deadline Extended!
Ultimately, it is the responsibility of the beneficiary to take whatever remains of the unpaid year-of-death RMD.
Roth 401(k) Dollars Are No Longer Subject To RMDs
Roth plan accounts can be disregarded when your RMD is calculated and a withdrawal from a Roth 401(k) account in a year an RMD is required does not count towards satisfying your RMD for that year.
New Rules For Spouse Beneficiaries When Death Is Before The RBD
Of all the many provisions in the SECURE 2.0 Act, none has been more perplexing than Section 327, which changed the rules for spouse beneficiaries.
IRS Final Regulations Loosen Definition of "Eligible Designated Beneficiary"
One of the positive outcomes of the new IRS final SECURE Act regulations on required minimum distributions (RMDs), released on July 18, is that more beneficiaries will be able to stretch RMDs over their lifetime.
New RMD Regs Have A Surprising Result For Minor Child Beneficiaries
Under the SECURE Act, a minor child of the account owner is considered an eligible designated beneficiary and can stretch distributions from an inherited IRA over their life expectancy until reaching age 21.
Inherited Roth By Spouse Beneficiary - 5 Year Clock Issues?
Knowing which dollars are available tax-free and which dollars are still bound by a 5-year clock could save some heartache when it comes to tax time.
How Are Annual RMDs in the 10-Year Period Calculated?
The issue is whether a retirement account beneficiary subject to the 10-year payout rule who inherits from an IRA owner after the owner had started RMDs must continue annual RMDs during the 10-year period.
Inherited Roth IRA By Non-Spouse Beneficiary - 5-Year Clock Issues?
If a person already had a Roth IRA for 5 years AND is over 59 ½, there is no conversion clock to worry about. For these people, Roth IRA distributions will be both tax- and penalty-free.