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The Tools and Information needed to

Learn About Your Retirement Accounts

Looking for simplified answers to questions about your IRAs, Roth IRAs and 401(k)s?

You’ll find them here.

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The Top 3 Rules You Must Know
Before Doing any Transactions with Your Retirement Accounts

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Distributions + Roth Conversions

Early Distribution + RMD + Roth Accounts

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Beneficiary Options

Spouse beneficiary + nonspouse + nonperson

The Cost of Mistakes

Know
The
Risks

10% Penalty

Exceptions

The early distribution penalty that applies to distributions taken before you reach age 59 ½ . Know the exceptions.

6% Excise Tax

Ineligible contributions

The cost of exceeding your contribution limits. 6% excise per year unless properly corrected.

RMD excise tax

Owners and Beneficiaries

The cost of not taking required distributions by the applicable deadline.

Your Questions Answered

Should I owe the 6 percent excise tax for an excess IRA Contribution Penalty

Question: I am 64 years old and I am on social security. I have no other income for last year or this year. In January of this year, I made an IRA carry-back contribution ( for last year) contribution to my traditional IRA. When preparing my tax return this March , the results show that I will be penalized 6% excise tax on the contribution. Why is that? Answer: The 6% excise tax applies when

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Term Of The Day

Definition Period of more than three consecutive business days, during which participants and beneficiaries under the plan are restricted from performing transactions that would otherwise be available. These transactions include directing investments, diversify assets credited to their accounts, obtaining loans from the plan, or obtaining distributions from the plan . Plans that are not subject to title I of ERISA are not subject to the blackout notice provisions. Therefore, one-participant pl…

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