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By Ian Berger, JD IRA Analyst It’s that time of the year! College bills for the Fall semester are arriving, and you may be thinking of tapping [...]
By Sarah Brenner, JD Director of Retirement Education Question: Hi, I have a client who died in 2021 before taking his 2021 RMD. He [...]
10 NUA Q&AS
July 21, 2021By Andy Ives, CFP®, AIF® IRA Analyst 1. What is the NUA (Net Unrealized Appreciation) tax break? It is the opportunity to pay tax at long-term[...]
5 TAKEAWAYS FROM ED SLOTT’S INSTANT IRA SUCCESS WORKSHOP
July 19, 2021By Sarah Brenner, JD Director of Retirement Education On July 15 and 16, financial advisors from around the country gathered virtually for Ed [...]
Ian Berger, JD IRA Analyst Question: Mr. Slott, Would a person who took a Coronavirus-Related Distribution from his IRA in 2020, with intent[...]
Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport In the June 16, 2021 Slott Report, we discussed how an in-service [...]
Sarah Brenner, JD Director of Retirement Education Question: A client of mine born in 1952 passed away in March 2021 and the IRA passed to her [...]
By Andy Ives, CFP®, AIF® IRA Analyst A required minimum distribution (RMD) from a 401(k) (or other employer plan) must be taken prior to [...]
Sarah Brenner, JD Director of Retirement Edcuation June is PRIDE Month. This June also marks the sixth anniversary of the landmark Supreme Court [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: How can the beneficiaries of an estate roll a 401(k) paid to the estate to a Roth IRA? What [...]
By Ian Berger, JD IRA Analyst On April 14, we reported that the IRS was apparently interpreting the SECURE Act's 10-year payout rule in a [...]
10-YEAR RULE: BENEFICIARY PLANNING “LOOPHOLE” CLOSED
June 7, 2021By Andy Ives, CFP®, AIF® IRA Analyst With the passage of the SECURE Act, once common IRA beneficiary planning strategies have been upended. For[...]
By Ian Berger, JD IRA Analyst Question: Hi! I attended the February 2021 IRA seminar and had a question re: Roth conversions. The seminar [...]
SECURE ACT REGULATIONS EXPECTED “SOON”
June 2, 2021By Sarah Brenner, JD Director of Retirement Education It has been well over a year since the SECURE Act became a reality, transforming the rules [...]
By Sarah Brenner, JD Director of Retirement Education Question: We have a client that owns two substantial IRA accounts plus a smaller [...]
HOW THE ONCE-PER-YEAR ROLLOVER RULE IS MISUNDERSTOOD
May 26, 2021By Ian Berger, JD IRA Analyst One of the cardinal sins you can commit with an IRA rollover is to run afoul of the IRS “once-per-year” rollover[...]
EXCESS IRA CONTRIBUTIONS – GAMING THE SYSTEM?
May 24, 2021By Andy Ives, CFP®, AIF® IRA Analyst An IRA owner can contribute only so much to a Traditional and/or Roth IRA annually. The IRA owner must [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Dear Mr. Slott, I really enjoy your publications, website and educational programming on [...]
SPECIAL RULES FOR SPOUSE IRA BENEFICIARIES
May 19, 2021By Sarah Brenner, JD Director of Retirement Education The SECURE Act may have upended the rules for inherited IRAs, but the rules for spouse [...]
HOW DO RMDS WORK IN DB PLANS?
May 17, 2021By Ian Berger, JD IRA Analyst Rules governing defined benefit (DB) plans are typically more complicated than defined contribution (DC) plan rules.[...]
By Ian Berger, JD IRA Analyst Question: Good afternoon. We have a client who was 19 years younger than her spouse. He passed away this year. We[...]
NO IRA CONTRIBUTIONS AFTER DEATH
May 12, 2021By Andy Ives, CFP®, AIF® IRA Analyst As we inch toward the extended 2020 tax deadline of May 17, many filers are still laboring over their [...]
ARE YOU READY FOR THE SON OF SECURE?
May 10, 2021By Sarah Brenner, JD Director of Retirement Education On May 5, the House Ways and Means Committee unanimously passed the Securing a Strong [...]
By Sarah Brenner, JD Director of Retirement Education Question: I am 83 years old with an IRA rollover account, regular IRA account and a small[...]
THE ROTH CONVERSION CONVERSATION: A MUST-HAVE!
May 3, 2021By Andy Ives, CFP®, AIF® IRA Analyst When visiting the doctor, does he or she ask foundational questions to help determine your medical [...]
2020 IRA CONTRIBUTION DEADLINE EXTENDED TO MAY 17
April 29, 2021By Sarah Brenner, JD Director of Retirement Education Good news for retirement savers! There is more time to make your 2020 IRA contribution. [...]
THE IRS MAY BE COMING AFTER YOUR SOLO 401(K) PLAN
April 26, 2021By Ian Berger, JD IRA Analyst If you sponsor a solo 401(k) plan, beware! The IRS recently announced that it is targeting several employer plan [...]
By Ian Berger, JD IRA Analyst Question: Your newsletter is so helpful, and your book was a great resource to me when my mom passed away 5 years[...]
ACTIVE PARTICIPATION AND IRA DEDUCTIBILITY
April 21, 2021By Andy Ives, CFP®, AIF® IRA Analyst This question (or a derivation of it) has been popular as of late: “I only participated in my 401(k) for[...]
MAKING A 2020 ROTH IRA CONTRIBUTION
April 19, 2021By Sarah Brenner, JD Director of Retirement Education The IRS has delayed the deadline for filing federal income taxes until May 17, 2021. This [...]
IRA RUMORS AND CONSPIRACY THEORIES
April 15, 2021By Andy Ives, CFP®, AIF® IRA Analyst With all the recent changes to IRAs under the SECURE Act [i.e., required minimum distribution (RMD) age [...]
By Sarah Brenner, JD Director of Retirement Education Question: A new customer came to me asking for help with an IRA. Unfortunately, he had [...]
By Ian Berger, JD IRA Analyst Just a few weeks after the start of the baseball season, the IRS has thrown us a curveball by apparently [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Hi, I inherited my husband's 401(k) when he died last year. I kept the assets with the 401(k)[...]
WHO MUST TAKE THE YEAR-OF-DEATH RMD
April 7, 2021By Sarah Brenner, JD Director of Retirement Education Required minimum distributions (RMDs) were waived for 2020 but they are back now for 2021. [...]
5 QUESTIONS WITH GEORGE NICHOLS OF THE AMERICAN COLLEGE
April 5, 2021George Nichols III is the 10th President and Chief Executive Officer in The American College of Financial Services’ storied history. He continues to[...]
By Ian Berger, JD IRA Analyst Question: Hi, Ed, I am hoping I get to attend one or more of your events IN PERSON this year! If you have [...]
FALLING WITHIN THE PHASEOUT, PART 2 - DETERMINING YOUR REDUCED IRA DEDUCTION FOR 2020
March 31, 2021By Andy Ives, CFP®, AIF® IRA Analyst In my blog entry from March 22, I discussed the formula for calculating the amount of a direct Roth IRA [...]
By Sarah Brenner, JD Director of Retirement Education Question: Has the deadline to make an IRA contribution for 2020 been extended since the [...]
EIGHT DIFFERENCES BETWEEN DC AND DB PLANS
March 24, 2021By Ian Berger, JD IRA Analyst Fewer and fewer workers are participating in defined benefit pension (DB) plans these days. The high cost of [...]
FALLING WITHIN THE PHASEOUT, PART 1 - DETERMINING YOUR REDUCED ROTH IRA CONTRIBUTION LIMIT
March 22, 2021By Andy Ives, CFP®, AIF® IRA Analyst When it comes to contributing directly to a Roth IRA, an individual must have modified adjusted gross [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Hi, I found you by searching to find out if we can offer two SIMPLE IRA options for our [...]
HOW TO CALCULATE YOUR 2021 RMD
March 17, 2021By Sarah Brenner, JD Director of Retirement Education The CARES Act waived required minimum distributions (RMDs) for 2020, but they are back for [...]
CAN I STILL OPEN UP A NEW SOLO 401(K) FOR 2020?
March 15, 2021By Ian Berger, JD IRA Analyst We’ve been getting a number of questions lately about whether it’s too late to set up a new solo 401(k) plan for[...]
ROTH CONVERSIONS OF ILLIQUID ASSETS AND ROTH CONVERSIONS TO SATISFY RMDS: TODAY’S SLOTT REPORT MAILBAG
March 11, 2021By Ian Berger, JD IRA Analyst Question: I have self-directed traditional and Roth accounts at an SDIRA Custodian. Can I do a Roth [...]
HOUSE RULES
March 10, 2021By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport Casinos have house rules. These rules dictate what patrons can [...]
DON’T MISS OUT ON THIS RETIREMENT SAVINGS TAX BREAK
March 8, 2021By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport For those just starting out, saving for retirement[...]
By Sarah Brenner, JD Director of Retirement Education Question: I am 75 years old and am planning to retire this year. I have a 401(k) plan [...]
RETIREMENT ACCOUNT ALPHABET SOUP
March 3, 2021By Ian Berger, JD IRA Analyst For an area as highly regulated as IRAs and company plans, it’s not surprising that there’s a ton of abbreviated[...]
A PREVIEW OF ED SLOTT’S NEW BOOK: THE NEW RETIREMENT SAVINGS TIME BOMB
February 25, 2021Thursday, February 25, 2021 A Preview of Ed Slott’s New Book: The New Retirement Savings Time Bomb By Ed Slott, CPA If you’re[...]
ROTH IRA CONTRIBUTIONS AND YOUR TAX RETURN
February 24, 2021By Sarah Brenner, JD Director of Retirement Education Have you contributed to a Roth IRA for 2020? If you have not, you still have some time. The [...]
WHEN A “REVERSE ROLLOVER” MAKES SENSE
February 22, 2021By Ian Berger, JD IRA Analyst When we think of rollovers, we normally think of moving funds from a 401(k) (or other company plan) to an IRA. But[...]
By Ian Berger, JD IRA Analyst Question: Hi, I have a client that took a $14k IRA distribution on 1/10/2021 and another $14k distribution on [...]
TRANSFERRING A ROTH IRA AFTER DIVORCE – 3 LOGICAL CONSIDERATIONS
February 17, 2021By Andy Ives, CFP®, AIF® IRA Analyst Surprisingly, the rules governing what happens when an ex-spouse acquires a Roth IRA after divorce are [...]
THE GOVERNMENT IS NOT PLANNING TO CONFISCATE YOUR IRA
February 15, 2021By Sarah Brenner, JD Director of Retirement Education Whenever there is a new administration there is a lot of uncertainty about what the change [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: I am going to turn 72 in December of 2021. When I take my RMD, what is the dollar amount I [...]
WHAT HAPPENS IF I TERMINATE EMPLOYMENT WITH AN UNPAID 401(K) LOAN?
February 10, 2021By Ian Berger, JD IRA Analyst One of the many unfortunate effects of the coronavirus pandemic is the number of folks who have lost their jobs. [...]
ROTH IRA ROLLOVERS AND THE 5-YEAR RULE: TODAY'S SLOTT REPORT MAILBAG
February 9, 2021By Sarah Brenner, JD Director of Retirement Educations Question: Hi! I am over 60 and have had a self-directed Roth IRA for the past 15 [...]
RMDS AND ROLLOVERS – A DANGEROUS BLEND
February 8, 2021By Andy Ives, CFP®, AIF® IRA Analyst It is early 2021 and two ingredients mix again: retirement money in motion, and required minimum [...]
3 TIPS TO AVOID TAX PROBLEMS WITH YOUR SEP
February 3, 2021By Sarah Brenner, JD Director of Retirement Education A Simplified Employee Pension (SEP) is a popular choice for many small employers. Although [...]
FOUR UNEXPLAINED TAX CODE MYSTERIES
February 1, 2021By Ian Berger, JD IRA Analyst The Internal Revenue Code is over 4,000 pages of often unintelligible tax jargon. So, it shouldn’t surprise anyone[...]
By Ian Berger, JD IRA Analyst Question: I hope you can help me with this, as I cannot find the answer anywhere or from anyone. In 2019, my [...]
“COMPENSATION” FOR IRA ELIGIBILITY
January 27, 2021By Andy Ives, CFP®, AIF® IRA Analyst Here we go again…barreling headlong into another tax season. This year will be like no other. With all [...]
ROLLING OVER A 2020 DISTRIBUTION IN 2021
January 25, 2021By Sarah Brenner, JD Director of Retirement Education The rules for rolling over IRA distributions can be complicated at any time of the year. [...]
By Sarah Brenner, JD Director of Retirement Education Question: We had a client who died with no beneficiaries on his $500k 401(k). He wasn’t[...]
AFTER CORONAVIRUS-RELATED DISTRIBUTIONS – NOW WHAT?
January 21, 2021By Ian Berger, JD IRA Analyst Coronavirus-related distributions (CRDs) are no more. Millions of Americans took advantage of the opportunity to [...]
RECHARACTERIZING AN IRA CONTRIBUTION – STILL IN THE TOOLBOX!
January 18, 2021By Andy Ives, CFP®, AIF® IRA Analyst As we enter tax season and consider last year’s transactions, it bears repeating: Roth [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: I recently retired and I plan to relocate to Tennessee. I would like to purchase a new home. [...]
THE ANSWER TO THIS QUESTION ON ELIGIBLE DESIGNATED BENEFICIARIES UNDER THE SECURE ACT MAY SURPRISE YOU
January 13, 2021By Sarah Brenner, JD Director of Retirement Education The SECURE Act made many changes to the rules for beneficiaries who inherit retirement [...]
NEW COVID-19 STIMULUS LAW DOES NOT EXTEND CARES ACT CRD RELIEF
January 11, 2021By Ian Berger, JD IRA Analyst There’s been some confusion about the retirement plan aspects of the COVID-19 stimulus package signed into law on [...]
THE “LOOK BACK” – CONSIDERING A TAX YEAR IN ITS ENTIRETY
January 6, 2021By Andy Ives, CFP®, AIF® IRA Analyst We are just a few days into the new year, and many people are anxious to get their full IRA contributions [...]
2021 NEW YEAR’S RESOLUTIONS FOR YOUR IRA
January 4, 2021By Sarah Brenner, JD Director of Retirement Education A new year brings a fresh start, and after 2020, we need that more than ever. You probably [...]
ROTH IRAS AND THE 10-YEAR RULE: TODAY'S SLOTT REPORT MAILBAG
December 31, 2020By Sarah Brenner, JD Director of Retirement Education Question: Can a retired person not working contribute to a Roth IRA? Answer: [...]
HAPPY NEW YEAR!
December 30, 2020By Ian Berger, JD IRA Analyst From The Slott Report, December 30, 2019: “2020 promises to be an exciting year in the IRA and savings plan [...]
BUSY, BUSY, BUSY!
December 28, 2020By Andy Ives, CFP®, AIF® IRA Analyst Ah, the end of the year. Snow is drifting, music plays quietly in the background. Ma in her kerchief, Papa[...]
60-DAY ROLLOVERS AND RMDS IN 2020: TODAY'S SLOTT REPORT MAILBAG
December 24, 2020By Andy Ives, CFP®, AIF® IRA Analyst Question: Recently, I received two checks, one for all assets in a Traditional IRA and one for all [...]
HOLIDAY GREETINGS FROM THE SLOTT REPORT
December 23, 2020By Sarah Brenner, JD Director of Retirement Education We at the Slott Report would like to wish all our readers a happy and safe holiday season. [...]
HAPPY BIRTHDAY TO THE SECURE ACT!
December 21, 2020By Ian Berger, JD IRA Analyst One year ago from yesterday (December 20, 2019), President Trump signed into law the SECURE Act. At that time, [...]
ROTH IRA RECHARACTERIZATIONS AND CARES ACT DISTRIBUTIONS: TODAY’S SLOTT REPORT MAILBAG
December 17, 2020By Ian Berger, JD IRA Analyst Question: Hello, Can you still recharacterize a Roth contribution (due to income limits) to a Traditional IRA [...]
AFTER-TAX ROTH CONVERSION: TRICK QUESTION?
December 16, 2020By Andy Ives, CFP®, AIF® IRA Analyst Bob is 40 years old. He is a single tax filer, participates in a 401(k) at work, and makes a healthy [...]
2020 YEAR-END RETIREMENT ACCOUNT TO-DO LIST
December 14, 2020By Sarah Brenner, JD Director of Retirement Education The end of 2020 is almost here. With the end of the year come certain retirement account [...]
IRA TRANSFERS AND ROTH CONVERSIONS UNDER THE CARES ACT: TODAY'S SLOTT REPORT MAILBAG
December 10, 2020By Sarah Brenner, JD Director of Retirement Education Question: I am 79 and still employed. My employer has an SEP for me and I have a [...]
BE CAREFUL ABOUT USING YOUR IRA FOR A SHORT-TERM LOAN
December 9, 2020By Ian Berger, JD IRA Analyst Thinking of using your IRA as a “short-term loan” to raise some extra cash for the holidays? What could go [...]
DUBIOUS MULTI-LAYERED CRD TAX STRATEGY
December 7, 2020By Andy Ives, CFP®, AIF® IRA Analyst Recently we became aware of a multi-layered tax strategy that we think is a bridge too far when it comes [...]
INHERITED IRAS AND ROTH IRA ROLLOVERS: TODAY'S SLOTT REPORT MAILBAG
December 3, 2020By Andy Ives, CFP®, AIF® IRA Analyst Question: My father passed away in 2019 and left me an IRA. Will the SECURE Act apply, or will it be [...]
10 THINGS YOU MUST KNOW BEFORE CONVERTING IN 2020
December 2, 2020By Sarah Brenner, JD Director of Retirement Education The clock is ticking if you are considering converting your Traditional IRA to a Roth IRA in[...]
CAUTION: FOUR TAX BREAK DEADLINES RAPIDLY APPROACHING
November 30, 2020By Ian Berger, JD IRA Analyst Thanksgiving is behind us, and the end of the year will be here soon. (Many of us are truly thankful for that!) [...]
BACK TO THE RIGHT SIDE UP
November 25, 2020By Andy Ives, CFP®, AIF® IRA Analyst We have collectively crawled into the hollow of a 2020 tree and found ourselves in the Upside Down. (That [...]
IRS ADDS NEW REASON FOR SELF-CERTIFICATION OF LATE ROLLOVERS
November 23, 2020By Sarah Brenner, JD Director of Retirement Education The IRS has recently added a new reason for self-certification of late rollovers to its [...]
By Ian Berger, JD IRA Analyst Question: Good Morning, We have a client that passed away in November of 2019 at the age of 85. Her [...]
WHAT LIMITS APPLY IF I PARTICIPATE IN TWO COMPANY PLANS?
November 18, 2020By Ian Berger, JD IRA Analyst We continue to get questions about the limits that apply for folks who participate in multiple company savings plans[...]
MILITARY BENEFITS
November 16, 2020By Andy Ives, CFP®, AIF® IRA Analyst With Veterans Day being just last week, an overview of two military retirement benefits felt like an [...]
RMDS UNDER THE CARES ACT: TODAY'S SLOTT REPORT MAILBAG
November 5, 2020By Andy Ives, CFP®, AIF® IRA Analyst Question: Great work you all do. Been a reader of Ed for a long time. How would this scenario work? New[...]
10% PENALTY EXCEPTIONS – IRA ONLY!
November 4, 2020By Andy Ives, CFP®, AIF® IRA Analyst When a person under the age of 59 ½ takes a withdrawal from their IRA or company plan - like a 401(k) –[...]
CRDS ARE STILL AVAILABLE
November 2, 2020By Sarah Brenner, JD Director of Retirement Education The year 2020 has been a challenging one. With coronavirus cases rising in most of the [...]
TRUSTS AS IRA BENEFICIARIES AND NUA: TODAY’S SLOTT REPORT MAILBAG
October 29, 2020By Ian Berger, JD IRA Analyst Question: Our estate planning attorney prepared trust documents a few years ago and he advised us to name the [...]
MORE ON AFTER-TAX PLAN CONTRIBUTIONS
October 28, 2020By Ian Berger, JD IRA Analyst The October 19, 2020 Slott Report article, "Don't Overlook After-Tax Contributions!," explained how after-tax [...]
INHERITED IRAS AND THE 10-YEAR RULE: TODAY'S SLOTT REPORT MAILBAG
September 30, 2020By Andy Ives, CFP®, AIF® IRA Analyst Question: Hi there! I have a quick question, so I thought I’d reach out to you to get your take on[...]
BENEFICIARY FORM BASICS
September 29, 2020By Andy Ives, CFP®, AIF® IRA Analyst An argument could be made that the easiest financial document to complete is the IRA beneficiary form. Yet[...]
WHAT’S A TOP HAT PLAN?
September 28, 2020By Ian Berger, JD IRA Analyst Think of a top hat, and you’ll likely conjure up images of Franklin Delano Roosevelt or the temporarily-deceased [...]
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