IRA Insider - 1

Get the Inside Scoop on IRA News...

Become an IRA INSIDER!
If it's your job to know IRAs, you owe it to yourself, as well as
your customers and your organization, to stay on top of your
game. The IRA Insider helps you do just that.

DIGITAL
FORMAT

IRA Insider gives you in-depth reporting and analysis on a
wide variety of IRA topics. Many subscribers consider this
to be 30 minutes of "monthly required reading" for their
entire team, regardless of their level of expertise!

sole
May an
hter, the
IRA
rust.
May an
of the daug
charitabl owner, age
empyloyer y of the sub-t
84, take
e distributi
expectanc
plan
life
ficiar
estab
a qual
to cove
bene
Yes. In
on (QCD
r certain lish a SIMPLEble to
2015
compnated
) in 2018 ified
IRA
desig
any and4]
empIs
made QCD , the Consolida
?
NotsEligi IRA
loyee
2017 Roth
How much
20175000
also estab
plan
of the
ficiarylish
[PLR that
terizing
individual s permanent. ted Appropria
only
r Bene
a SEP IRA
the FDIC of an indiv
Recharac ns in 2018
esso
tions
inclu
Therefore,
n	
on its
No.
idua
n	Succ
?
distributio who is age 70½
An empl WRP des its man
l'sersio
for 2018 Act
IRA may d information
Conv
ager
oyer that tly requested
or older
n may comp
The FDIC
, an
IRA plan
Roll Over
postebe insured that some
recenmain regardings?a
may
lete a QCD. on the date
idual
by rizing
We wer
not mainthe IRStains
accounts adds togetherThe IRS has ying a question
a
retire
Our custo
indiv
of the
SIMP
t's
An
all retire
ment plans
e talking
LE
clarif
from tain anyparti
t recharacte of the
along with(Traditional, Roth
othecipan
curreinfor
she inhe mer, age 54,
websitementhad
mation in whic
abou
r
an
ntly accru
during
has
, SEP, ands depo
sit
in light
self-directe
rited in
a decehased
any empl
(WRP) to
owned
e bene
our coff
ersions
sometimes
she want
2017 from a beneficiar
SIMPconv
er from
individual
d 401(k
by
fits. t plan oyees
rollovcalled
y
IRA LE IRAs,ined in the Tax
ee
), Keog
retiremenThis is idual asked
and insur the same perso 2017
Rothh,
break and
(she is s to make a 2018 her spouse. IRA that
d in
and conta
indiv
exclu
es the total
n at the
eligible
workplace the ly,
thesiveIn 2018
ctions 457
contribut
plans
this
surviving
h )was passeRoth May a 2018
same
plan
to
2018).
of arule.
amountnew restri
insur
Specifical
ion to this ,
Act,
May she make an IRA
question
edwhic
IRA. tax-y
up to $250
Where
s that
bank
recharact
ear the death bution from
cont
IRA
her bene
and Jobs
make a
can
,000.posting state may be
came up:
erize
IRSd?if, afterIRA cont
a distri
tax-year ribution for
ficiary
expenses an HSA owne Cuts
the
A 66-yearmade
ficiary, ribut
ion be
IRA?
is The
contribut
2017. The made in 2017 rizationYes.
r find
Yes; howe
are cons
t plan
se bene
late
old
new
men
what
expe
ns
HSA
ion
spou
the
idere
ver,
recha
und
retire
racte
med
nses?
to
ersio
the recen
by doing
owner
d qualIRA
beneficiar
ical the recha
placerizati
conv
lished for
d er age 65.
ified
tlythe
workracte
so,
passe
IRS Publi
medical
rized if
rules in spouse woul
If the spou is married, and
year IRA
.
signer
d taxited IRAonestab
sponsors y IRA as her own she has elected
cation 502,
contr
ving
15, 2018
recharacte
on the
still survi
an inher bill the
his
se
will
to
ber
In
an
IRA.
ibutio
allow
to
"
treat
is
spou
by
n.
excel
not
Medi
Octo
5329
HSA
add
There
the feder
inherited
n toybe
of recha distri
a tax-butio
accept
the
taken from
lent sourc
se is
cal
ed as an
, and a
fore,
Form
ficiar
made by
a
er
incom
e of infor and Dent
nonqua
including albene
al Expe
mation
rollovracte
ases 2017 by taxpayers who
the HSA
be requ IRA. Instead, the tax-year contr most IRA
e taxble
Relenses,
mation n	IRS
lified distr authorized
filing
extensions
an infor The
A spou
ibutio
ired
drized
, will the
dead
on this 5329
claim
isisfiled
issueline,
be an "eligi
se inhe
nated
to
IRA to accep to have an IRA spouse beneficiar n to an
.
IRS
ibut
Ans
topic
IRS 20%
the
rited 50%
a desig
wer:
IRA. May
that is
y woul
IRS Form . taxes, or need tax, on
t a tax-y
penalty ion is
response, ining that only designated
spouse
of
No. The
ional
transfer the spouse bene a deceased
could then ear contributionot an inherited d
y
apply?
additional
applicatio
an addit
owe IRA
her
IRA fund
letter expla or a beneficiar roll over
other
ownefrom
distrian
n of the
ption
is not the share to her ficiary roll over
y,
s to her roll over or trans n. The surviving
r's rdell ESAs and
butio
IRS 20%
an exceor Cove
and its
own IRA.
own
IRA. A ns from an
sole prim
beneficiar participant, may ited
fer the ty to be
HSA is base penalty for
inherited
2017 form reflect
HSAs,
Yes. Rega
inher not on the
ary bene IRA even
rtuni
May an
se age of
thou
nonqualifi
by the plan bution to an
ficiary IRAs,
d on the
gh plans. The
individua
thespou
ted to
g the oppo to have fun at
any
ving
HSA owne
ed
spouse rdless of whet
of tax-fa
voredshe
distri
age of
Tradition
the IRA?
like
conthavin
n to r is over additional signe
been upda
her
r.
is
regarding
renland
eligible
d by a survi distri
ributmy
butio
al IRA?
e tosons
rs on the the HSA owne
spouse the sole primary or not the survi
age
Echo Silve
y name
ualified
a nonq
ctions have signed into law
both
adult child
Yes. Partic
r,
may roll
nded that The
instru
account.
a 401(k)group, the
beneficiar
ving
and 2016
Amazon
I have
roll over distri
beneficiar
ficiary distributio 65, the 20% pena
am remi
over or
due to
Beca
butions
may not
age and a
n, even
t legislation
y, a survi
holidays. an
the benebutioplan
ld get:
g I shou
ever, Iipatin
death to
transfer
indiv
recen
a 401(k
How
if his youn lty will not apply use
ving hurricane distri
of a WRP
er,
the n.
because
a "certain"
idual that in
So, after name
y over the
the
an IRA in
ns.
) plan
great.IRA.
le of does
ger spou
ronics.
fied
.
ited IRA
t
nated by
Dear Read
productfromhelps
contrpeop
with famil children was
the survi funds recei
electpreve
distributio
not
ad,
newHowe
ibuting ehold
se autho to a
an inher
ugh Trus
t adepe
ver,that
ving spouqualived
ed being
ficiary desig r 2017-0030]
and
recovery
r.ntInste
parti
-Thro
to
abou
hous
rizes the
ses
ter
enjoy
a
bene
ol
AARP
Silve
me
cipat
Tradi
a
Look
lar
g
nding on and contr
se's
spou
Lette
disasown
If a custo
tional
I really
ified
is not
zon and
a zon Echo
the indiv inganinAma
trust that
and their
were tellin
on me...
Make Regu
t. [IRS Info
t Is Qual
by Amalevel the
internet
planjoke's
as 's 401(k) The
lished a
IRA to mer, age 70½
hold
n	Trus
with them This year, they e designed
participan Owners Do Not
may,
ate of incomsuch
thingidual
tax-fiuct.
e, affec
our
, transfers
Tradi
lished to
idual estab
ling statu
nse.
prod
devic
t theirous
tiona
IRA
isl no
for dete institution in
easily navig there
An indiv a sub-trust estab 's retirement
special
ability to
IRA contr fictiti
my expe
s and
n	Most
Benefit
rmining
2018, are his Tradition
ions
n, to more
it was a
to find
deduct
al ined
about thisibution.
the 2018
l
individual
we
Contribut a recent Employee for
conta
thes are using funds?
generatio product, only
They said
Ifdy
sketch
a 2018
RMD amo responsib
rt,
s from the ded a Traditiona t
greatest
to
individual of things,No.
new
distr
come
le
repo
lled
asset
)
this
rding
Live
ibuti
many
unt
t
the
over to
up
so-ca
(EBRI
Your custo
Acco
h inclu
Please an IRA
on thos
on from
ise
kinds
ars that
) retiremen
a
day Nigh
surpr
I looked
Institute
e unts, whic
a 401( about all
mer shou
institution
a 403(b as the
tainedJoin Us
. It appe
recharact Roth
acco
. . .,
they left, led me to a Satur
ldn't really hing
Research who mainSubm
mayinfor
ssingIRA,
mationk) plan
ld work
IRA and
to deter
gh 2015
it a ques
is rolle
it shou
h
rs
le that contribut
with the
throu
d to a Trad
quite distreerize
mine the
was listed idual's
d of searc
tion
onthe
IRA, a Roth
we will
2010
my searc
I supposeion be
IRA owne
ibutito
thing No.
Prior to for reliab
means
ing. al
RMD amou prior
sub-trust
send
Anway
indiv
contr
sly from regu
individua
lar
best
2018, a t plannition
you tional IRA Insider and,
find some , as
a substitute
of the
another
IRA?
plan. The for each of the
nt.
a
again.
just
t is the insti
continuou makepmc@
IRA Inside
h, I did
rollovis
l
mentretiremen
exist retireeven
pmc- Tradian
if it appe
the death
y
, erreally
not
from a h, asking "Wha se the best
tution. transferred Roth
r coffee
in my searc h does really
Amongcorp.com.
(WRP
Alexa
recha
and racte plan
beneficiar accounts. Upon irrevocable.
workplace confu
to the
If we use
mug. Send ars in Coffee
most did each year.
) to a net searc
Put "Coff
name
bank
IRA fund
, whic
However,
matters,
ies,FBO We received
to
rized
Break,
to the
youribute
IRA
ment
contr
dead
became
results
nds
zon Echo
an interRoth IRAgh
financial h respo
ques
own entit
ibuted ee Break" in the your question
could
mug
dida Tradi
line. Howe
to their
trust
did ,not
I to
tion,
Roth IRA the customer. the check paya s to our retire
the sole
PM
contr
issues,
tiona
be
we will
the Ama
C'swas
inly lenou
subject
rs, 87%
t 2%
to:
ers to unkn
IRA by the
curiosity, ver, isthe
recha
ble to our individual, the daughter
acknowle ofin addition to
medical
Elec rust.
certa
ofracte
matt
Echo, whic . Out
line.
IRA owne
depositedRollover Elect Must the custo
new taxweighty
while abou
send
appli
t 60%dge your
rizati
including
Amazon
ts! That
idual's Going and sub-ttron
ion
on rules
rollovn
mer sign
such law has chan cable
a keyboard millio
contributio ing you IRA Inside
use the
r ic FormsIRA
in any year, In contrast, abou
any
Green Mean
ersresul
The indiv of the trust
savings in the Roth IRA? form when
so that
towillin
g to trust
and
te lette
36
a Roth
ut using
.
ged the voredNo.
me, beca
ibute in
n in this
the chec a
conversio
r coffee
Because
smarter.a priva
s Savin
yearsum
ficiary
IRA that
tax-fa
2017
net witho t?" There were after
e g Gree in all sixDoc
le aremay
not contr in all six
needed
space.
itted
bene
k
the
and
e
ns
Have
is
did
inter
e.
rmin
are
FBO
peop
and
chec
ent
rs
IRAs
subm
d
the
PMC' accla
taxab on
n! It woul owne
men
WRP ed sourc the custo
not be
sourc
ee for the IRS to dete
k was paya
s
some
IRA
recharacte
expertle for abe
for retire
form and nssfor
contribute Brief, no.
d be great
mer, the
The trust est to the
a trusted
me that Februa
the trust
imed IRA, Roth
construct
you the
to save
n from
rized can tax year
Roth IRA ble to your bank
amazes
worryingdistrisbutio
Issue
document
if money
ry 2018
about 10%
ive recei
EBRI
andESA
and
d s that HSA
always
is to make organization.
owner does
ruling requ minimum
informatio
trans
whet
grew
land,
pt
year
base
on
the
of
actio
her
form
of us. It
Cope
on
the
trees. But
s and
getting
, our missi
beco. me
[Craig
and your
calculatedthe forms you mayyears
usbe
transfer, n would be cons funds. Therefore, not have
if required Call
ects.
today
it
2018] documents
obso
nated
in. At PMC assistance, you
rather than
at 800-2
10,
not a rollov
rust may
lete
idered
and prosp
ary
when you doesn't. So it
te have are up-to
before
33-32
Janu-date
a non-repo the
izatio
priva
the sub-t organ
as thendesig
e you come
pays to
er.
440,
with our your customers
you
07
the
need
hter
wher
or
can
use
s
that,
work
simp
.
them.
rtable
daug
"Go Gree
with automapproved
them. And,
That'
for
dent
ly visit pmcon the
IRS atic
n" and
mation
am confi
most impo No more payin
the trust
y. The
upda
plans. I
ment infor
g
tes. look- be guaranteed corp.com/eform
ing that
rtantly
one more
beneficiarJust
le retire
- no more
to have
s
est, agree
waya qualified
rds,
for reliab
um
forms and for a no-obliga
make
letter requ irements of weired
Best Rega
minim
you the t
tion quot
document
requ
© 2018
requ
expert!
e on how
PMC
s that are
met the
, and that to the retiremen
your
current
ghry trust
the
Februa
regard
and in comp
throu
PMC
2018
based on
© 2018
ns with
liance IRA Insider
distributio to be calculated
are
accounts

Wh
Alexa,

ble IRA

d Relia

I Fin
ere Do

ati
Inform

on?

PRINTED
COPIES
© 2018

Februa

ry 2018

Break

rthy
Notewo

Coffee

PMC

Februa

ry 2018

IRA Insider

© 2018

PMC

IRA Insider provides
an excellent resource
and presents those
unnerving IRA issues
in easy-to-understand
layman's terms.
- Gerald Rupp, AVP
First Savings Bank
of Perkasie

Visit us at www.pmc-corp.com /subscriptions to Subscribe Today!


http://www.pmc-corp.com/eforms http://www.pmc-corp.com/subscriptions

Table of Contents for the Digital Edition of IRA Insider

IRA Insider - 1
IRA Insider - 2
http://www.nxtbookMEDIA.com