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

October 23, 2012

IRS Issues PLRs on IRAs


New Private Letter Rulings: The IRS has issued several private letter rulings (PLR) on matters related to IRAs and other retirement accounts. The following are a few:

  • PLR 201242024: Extending 60-day rollover period, because the taxpayer’s employer failed to follow the taxpayer’s instructions, resulting in a delay in meeting the 60-day deadline.
  • PLR 201242018: Providing an extension for completing a recharacterization.
  • PLR 201242021: Extending 60-day rollover period, due to miscommunication with financial advisor.

We will be providing more details on these and other rulings soon.

Sign-up here to receive future updates



Keep Learning

SIMPLE 401(k) Plan

Definition A SIMPLE 401(k) plan is a 401(k) plan established by a small business for it’s employees. Earnings accrue on a tax-deferred basis and distributions

Required Minimum Distribution (RMD)

Definition The minimum amount that must be withdrawn from retirement accounts, including qualified plans, 403(b) accounts, 457(b) accounts or IRAs, each year.  For retirement account

Required beginning date (RBD)

Definition The date by which a retirement account owner must begin distributing required minimum distribution (RMD) amounts from a Traditional,  SEP or SIMPLE IRA, a

Designated Beneficiary

Definition A designated beneficiary is an individual (person) beneficiary whose is designated as beneficiary of  a qualified plan account, 403(b) account, 457(b) plan or IRA,

Be among the first to know when

IRA Rules