The Slott Report | Ed Slott and Company, LLC

The Slott Report

A Series of Fortunate Events; Tread Lightly - (72(t) Payments/Substantially Equal Periodic Payments)

Most people know that, generally speaking, you cannot access traditional IRA money penalty-free until you reach age 59 ½. Early distributions are subject to a 10% early withdrawal penalty. Of course, like virtually every other retirement rule ever written, there are exceptions to this general rule.

Is Your IRA Safe From Creditors?

Suppose you unexpectedly incur a major liability, from a lawsuit or some other unforeseen cause. Will the funds in your IRA be protected from your creditors? Maybe ... or maybe not. Here are the rules:

Converting an IRA to a Roth IRA and Satisfying RMDs: Today's Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about converting a traditional IRA to a Roth for prior years, as well as whether or not it's possible to roll funds from a 401K into an IRA, without having to satisfy an RMD first.

5 Things to Know About Your IRA Agreement

There is a lot of paperwork involved when you open an IRA account. You have to prove to the bank who you are and that your funds are legitimate. There is an account opening form and a beneficiary form to be completed. After you do all of that, then you get a multi-page, tiny print document, which is the IRA agreement. It does not require a signature, yet it is the contract between you and the IRA custodian that you have agreed to abide by.

Watch Out for this Penalty When You Take a Roth IRA Distribution

Have you recently converted your traditional IRA to Roth IRA? Are you under 59 ½? If so, you will want to know about the five-year rule for penalty-free distributions of converted funds from your Roth IRA.

401(K) Contribution Limits and Late RMDs: Today's Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about taking full advantage of your employer's retirement plan options, as well as what time of year you should be taking an RMD.

Using Deferred Income to Fund Your Startup Business Could ROB Your Future

One of the most difficult aspects of starting a business is obtaining proper funding. While banks have begun lending again, loans for startup businesses are still difficult to obtain.

How Having Multiple IRAs Can Help Bequest Planning

Having just one IRA instead of several may simplify paperwork and minimize fees. But when you begin to think about leaving IRA funds to heirs, consider using more than one IRA to do so.

Commingling Inherited Assets and QCDs: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about commingling assets and QCDs.

The Death of the DOL Fiduciary Rule?

It now appears that the new fiduciary rules proposed by the Department of Labor (DOL) back in June of 2016 are all but dead. Late last week, the Fifth Circuit Court of Appeals rejected a last-minute appeal of its March 15th decision to toss the DOL rules. The appeal was filed by the AARP and three states (New York, California, and Oregon), not the DOL.

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