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Volume 7 Issue 5

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QUESTION OF THE MONTH

Can I withdraw my 401(k) without penalty if my company was sold?

Q: I am 55 years old. My company was sold to another company. Can I withdraw my 401(k) without penalty? I do not want to roll over my 401(k) to the new company plan. Thank you for any assistance you can provide on this subject. Answer

MAY KEY FOCUS

3 Reasons to WAIT Until You Retire to Make a Roth Conversion

One of the most common Roth IRA questions I’m asked is, “Should I make a Roth conversion?” While Roth conversions can make sense at any age, depending on your particular circumstances, generally speaking, the younger you are, the more it makes sense. However, there are some reasons you might want to pump the brakes and wait until retirement to convert. Read More

RULING TO REMEMBER

Financial Advisor’s Poor Math Leads to 60-Day IRA Rollover Error

In a recent 60-day IRA rollover case, the financial advisor did not count the actual days since the IRA money was distributed, so the 60-day rollover actually happened on day 62. IRS somehow knew she missed the date and contacted her. What happened next? Read More

INSIDE ED SLOTT'S IRA ADVISOR NEWSLETTER

New Once-Per-Year IRA Rollover Rules

IRS Provides Relief for Late Portability Elections

Excerpts from: Inheriting an IRA

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