New Roth Provisions Effective in 2024
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New Roth Provisions Effective in 2024

By Ian Berger, JD
IRA Analyst

By Ian Berger, JD

Under the tax rules, if funds in a section 529 plan are not used for education, the earnings are taxable and subject to a 10% penalty. This has scared many people away from funding 529 plans. As a way of relieving these fears, Congress included a provision in SECURE 2.0 that allows for rollovers of unused 529 funds to Roth IRAs. While this a worthy idea, beware of important restrictions on this new rollover rule.


Q: Is it possible to do a Backdoor Roth IRA conversion with a SEP IRA? If yes, how does it work?


Q: Starting in 2024, if you have a 529 plan you can potentially roll it into a Roth IRA if certain requirements are met. Could the 529 plan also go into a Roth employer plan?


Q: I am 79, and my regular IRA and Roth IRA (started in 2001) both name my revocable trust as sole beneficiary. My trust has a single beneficiary, my disabled daughter, aged 49, who receives SSDI. At my death, what are the distribution requirements currently? (My daughter cannot manage her own affairs. The trustee would handle the assets.)


Q: I have been funding a 529 account for over 15 years and no longer need to add deposits.Could I change the beneficiary to myself and then convert to a Roth IRA, assuming I have met the 5-year deposit hurdle as well? Has the government ruled on when the clock starts for the 15 years? Meaning, is it from when you open the account or does it restart when you change the beneficiary?


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  • New rules affecting many spousal beneficiaries—overlooked effects of SECURE 2.0 that can significantly impact your clients' financial plans
  • New opportunities to move 529 balances into Roth IRAsbut with notable limits and fine print to follow
  • Limited-time tax-planning opportunities for high-income clients, allowing them to make plan catch-up contributions and maximize their tax deductions
  • New little-known ways to reduce RMDs with IRA annuities
  • The expansion of Qualified Charitable Distributions (QCD) rules providing a new TRIPLE WIN solution fulfilling RMD requirements, gifting to charitable causes, and creating annuity income for your clients
  • Navigating new RMD penalty relief options to help your clients avoid unnecessary fees in 2024.
  • New penalty-free ways to access retirement accounts before age 59½
  • Expiring tax breaks creating planning urgency with only two years left to take advantage of low tax rates before they are set to increase
  • The latest retirement scams and how you can add value as an advisor to protect your clients' retirement savings
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