IRA BLOG

By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport SECURE 2.0 expands qualified charitable distributions (QCDs) by allowing a one-time only QCD of up to $50,000 to a split-interest entity. As a result of this new rule, there is now a...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport The Ed Slott team answers thousands of IRA and work plan questions annually - emails, phone calls, in-person conversations, webinars, Q&A programs and texts. We accommodate all members of the Ed...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Question: I have a new inherited IRA, and I believe that I am subject to BOTH the 10-year rule and to annual RMDs. Is this true?   My situation:      Original owner was age 92 and passed in...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport If you are thinking of buying an NFT (non-fungible token) with your IRA funds, you may want to reconsider. In Notice 2023-27, the IRS said that NFTs associated with “collectibles” are prohibited IRA...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport Question: I understand that my kids will need to empty my Roth IRA in 10 years, but do they need to take RMDs in years 1 through 9? I am beyond my RMD age. Larry Answer: Larry, Assuming none of your...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport If ever I was traveling from Los Angeles to Atlanta, I would choose a direct flight with no layovers. I want the most efficient route to my destination. Point A to Point B. Take off, land. Assuming...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport The August 28, 2023 Slott Report summarized IRS Notice 2023-62, where the IRS delayed the effective date of the SECURE 2.0 rule requiring catch-up contributions by higher-paid older employees to be made on...

By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Question: My name is Bruce. I am 65 years old, and I have a question about the SECURE Act. My mother died at age 89 on April 19, 2023, and I inherited her IRA. She had been receiving...

By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Many IRA assets will ultimately go to nonspouse beneficiaries. When these beneficiaries inherit the funds, special rules kick in. Inherited IRAs are not like your own personal IRA...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport   The lunacy of IRA beneficiary payout rules continues to boggle the mind. As I guide advisors through the options available to their clients, various nuances present one unique scenario after...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Last Friday afternoon (August 25, 2023), the IRS gave employer plans two more years to comply with the controversial SECURE 2.0 rule requiring “catch-up contributions” for high-paid employees to be made on...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport QUESTION: Hello!  I recently came across one of your articles and decided to reach out to you in hopes of getting some clarification re: the Secure Act 2.0 and distributions as a qualified public...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport When an IRA or retirement plan owner reaches a particular age, that account owner typically must begin taking required minimum distributions (RMDs.) The RMD is calculated based on the year-end...

By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Question: I am struggling to find an answer to my situation. My wife’s 82-year old father passed away about 8 years ago and he was taking IRA distributions. A portion of his IRA was...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport If you are subject to required minimum distributions (RMDs) and have annuitized part of your IRA, a recent law change could drastically reduce your RMDs. But, without IRS guidance, it may be difficult to...

By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport The IRS unleashed massive confusion last year. To the surprise of many, it released proposed SECURE Act regulations requiring beneficiaries (on some occasions) to take required...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Question: I’m age 76. My brother died in December 2022 at 84. Do I take required minimum distributions (RMDs) for the inherited account based on my age or on my brother’s age at death? Answer: Since you’re...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport As already-complicated IRA rules spiral further into an abyss of confusion, it comes as no surprise that irregularities exist. Up is down and left is right. Green means stop, red means throw your...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport   If you’re facing the unpleasant prospect of paying college bills for the fall semester, you may be thinking of tapping into your retirement savings to help with the costs. If you’re under age 59 ½,...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport Question: Greetings, If I have the beneficiaries on my IRA listed as my wife (50%) and two children over 21 (50%), is my wife still able to move her half of the IRA into her existing IRA when I...