Do you know the date you’re required to begin taking your required minimum distributions (RMDs) from your retirement accounts? For IRA owners or employer plan participants, your required beginning date (RBD) is a day that should be marked in red on your calendar. Be aware that the rules differ depending on the type of retirement account you have and whether you are the account owner or the beneficiary.
Prohibited transaction rules are in place to discourage account owners from acting in a self-serving or “self-dealing” manner. Do you know the rules?
Whether you inherit an IRA from a spouse or non-spouse there are important steps that need to be executed as a heir.
Roth IRAs offer a trade-off. You decide to pay taxes now on your contribution (or conversion) in exchange for tax-free earnings down the road. Don’t miss out on Roth IRA benefits by making mistakes when you take a distribution.
NUA is short for “Net Unrealized Appreciation” of employer securities. It’s the difference between the cost basis and the market value of employer securities held inside a qualified plan such as a 401(k).
IRAs are distributed differently than all other assets both during life and death. Here's Why: