Save time with our cheat sheets, fact sheets, checklists & books!

March 25, 2009

Reportable

Your Guide

Print
·Definition
Retirement-Industry term used to refer to a transaction that occurs in a retirement account, which the plan administrator, IRA custodian, or payer is required to report to the IRS and the account owner. Examples include:

Referring Cite

N/A

Additional Helpful Information

The following transactions are non-reportable:
  • A trustee-to-trustee transfer between two accounts of similar type , for example between two traditional IRAs, between a traditional IRA and a SEP IRA, from a SIMPLE IRA that has met the two year requirement to a traditional IRA or a SEP IRA, from a SIMPLE IRA to another SIMPLE IRA or between two Roth IRAs
  • A movement of assets between accounts under the same qualified plan, 403(b) or 457(b) account
  • Fees paid from the account, such as administrative or management fees
  • Total distributions of less than $10

Written By

Denise Appleby

Denise is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA resources for financial/ tax/legal professionals. She has over 20 years of experience in the retirement plans field, which includes training and technical consultation.

Denise writes and publishes educational /marketing tools for advisors; available at http://irapublications.com. Denise co-authored several books on IRAs

Denise is a graduate of The John Marshall Law School, where she obtained a Masters of Jurisprudence in Employee Benefits, and has earned 5 professional retirement designations.
She has appeared on numerous media programs, sharing her insights on retirement tax laws.

More

Keep Learning

Excess deferral

Definition Salary deferral contributions, contributions are limited to the lesser of the IRC § 402(g) limit or 100% of compensation. Salary deferral contributions in excess

Compensation Cap

Definition The compensation cap is the maximum amount of compensation that may be taken into consideration when determining contributions  to employer sponsored retirement plans,  such

Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

Be among the first to know when

IRA Rules
Change