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The Tools and Information needed to

Learn About Your Retirement Accounts

Looking for simplified answers to questions about your IRAs, Roth IRAs and 401(k)s?

You’ll find them here.

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The Top 3 Rules You Must Know
Before Doing any Transactions with Your Retirement Accounts

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Distributions + Roth Conversions

Early Distribution + RMD + Roth Accounts

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Beneficiary Options

Spouse beneficiary + nonspouse + nonperson

The Cost of Mistakes

Know
The
Risks

10% Penalty

Exceptions

The early distribution penalty that applies to distributions taken before you reach age 59 ½ . Know the exceptions.

6% Excise Tax

Ineligible contributions

The cost of exceeding your contribution limits. 6% excise per year unless properly corrected.

RMD excise tax

Owners and Beneficiaries

The cost of not taking required distributions by the applicable deadline.

Your Questions Answered

Should I owe the 6 percent excise tax for an excess IRA Contribution Penalty

Question: I am 64 years old and I am on social security. I have no other income for last year or this year. In January of this year, I made an IRA carry-back contribution ( for last year) contribution to my traditional IRA. When preparing my tax return this March , the results show that I will be penalized 6% excise tax on the contribution. Why is that? Answer: The 6% excise tax applies when

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Term Of The Day

Definition Acronym used to refer to a collection of laws that changed some of the rules that apply to retirement plans. The laws are as follows: 1. The Uruguay Round Agreements Act, Pub. L. 103-465 (GATT); 2. The Uniformed Services Employment and Reemployment Rights Act of 1994, Pub. L. 103-353 (USERRA)); 3. The Small Business Job Protection Act of 1996, Pub. L. 104-188 (SBJPA) (including § 414(u) of the Internal Revenue Code (Code) and 4. The Taxpayer Relief Act of 1997, Pub. L. 105-…

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