Estate of Beneficiary Cannot Disclaim
A beneficiary of a retirement account can make a valid disclaimer (IRC § 2518). However, the legal representative of a beneficiary’s estate cannot make a
Advisor Retirement Planning Resources
Tools that the financial, tax and legal advisor may use to simplify the rules and regulations that apply to tax-deferred retirement savings accounts- IRAs, Roth IRAs, employer 401(k) plans.
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Bankruptcy Protection for IRAs
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) included a provision that protect IRAs from bankruptcy. Under BAPCPA, this protection was capped
IRA Bankruptcy Limit Increase
Under The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, assets held in IRAs are exempted from bankruptcy up to $1 Million. This limit
Filing Form 5329: Additional Taxes On Qualified Plans (Including IRAs) and Other Tax-Favored Accounts
Form 5329 is used to address penalties on certain transactions which occur in your retirement account. These include: The 10% early distribution penalty. If your
IRS Issues Voluntary 403(b) Correction Program Submission Kit
Voluntary 403(b) Correction Program Submission Kit This kit was created to guide you through the steps in filing a submission for a VCP compliance statement. It
IRS Updates Correction Procedures for Retirement Plans
Revenue Procedure 2013-12 was released on December 31, 2012. Revenue Procedure 2008-50 is modified and superseded by this revenue procedure. Significant changes to the Employee
IRS Correction Procedures Addresses Correction for Failure to Adopt Written Plan for a 403(b)
“ ” The IRS released Revenue Procedure 2013-12 on December 31, 2012, which includes correction procedures for 403(b) Plans. Prior to the release of Revenue
SBO-K Plan Quick Reference Guide- 2023
Feature/ Benefit Small Business Owner (SBO) 401(k) Plan Eligible Employer Any employer, providing only the business owner/s is/are eligible to participate in the plan.
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
SSI Cost-of-Living Adjustment (COLA) Information for 2013
“Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 62 million Americans will increase 1.7 percent in 2013” SSA. Click here for more.
