Conversions | Ed Slott and Company, LLC

Conversions

Conversions, Missed RMDs, Inherited IRAs: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about conversions, missed RMDs, and inherited IRAs.

Strategies to Make the Most of Your Retirement Assets

“Confidence comes from being prepared.” —John Wooden. A successful retirement plan does not happen overnight nor can it exist without proper preparation.

Year-End Retirement Account Q & A

Question: When is the last day to make a 2016 Roth IRA conversion? Today's Slott Report goes into popular questions and answers you may have for the end of the calendar year.

Your 2016 H-O-L-I-D-A-Y Season Action Plan

H – Have your financial institutions send you a copy of the beneficiary information they have on file for you. On more than a few occasions, we’ve seen financial institutions lose copies of beneficiary forms (or in some really egregious cases, destroy them). Asking for this information annually helps ensure that there are no surprises when you’re no longer here. The beneficiary form is the most important document when it comes to your retirement account. Therefore, even though it may seem monotonous to check these forms year after year – especially if you haven’t made any changes – it’s worth the effort.

Roth IRA Reconversions

The deadline of October 15th has passed for recharacterizing Roth conversions done in 2015. (You have until October 15, 2017 to recharacterize your 2016 Roth conversions.) Now that you have recharacterized a 2015 conversion, what comes next? Can you reconvert those funds? The answer is yes, after a waiting period.

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