New Infographic – How IRS Notice 2024-35 Affects Beneficiaries

by Jess Knudsen | Apr 23, 2024 | News

A new infographic is now available that describes how IRS Notice 2024-35 affects beneficiaries who are subject to the 10-year rule and must take annual life expectancy payments during each of the first nine years after becoming a beneficiary of an account owner’s...

529 Plan-to-Roth IRA Rollovers

by Jess Knudsen | Apr 18, 2024 | News

I’ve heard that there’s a new option for savings in 529 plans to be rolled over to an IRA. Is this true? The SECURE Act of 2022—also known as SECURE 2.0—made many changes to tax-advantaged savings arrangements. Not all SECURE 2.0 provisions took effect immediately....

IRS Provides Further RMD Transition Relief Under the SECURE Act

by Jess Knudsen | Apr 18, 2024 | News

On April 16, 2024, the IRS issued Notice 2024-35 to provide additional transition relief for certain specified RMDs for 2024. Specified RMDs for 2024 This guidance is similar to relief announced for previous specified periods under IRS Notice 2022-53 and Notice...

Naming a Trust as IRA Beneficiary

by Jess Knudsen | Dec 21, 2023 | General Retirement

Are you considering naming a trust as your IRA beneficiary?  Here are 5 things to know beforehand. Naming a trust your IRA beneficiary is much less common than naming one or more persons, but it is not altogether rare.  Unlike a will—which essentially only identifies...

IRS Issues Proposed Long-Term, Part-Time Regulations

by Jess Knudsen | Dec 21, 2023 | News

The Internal Revenue Service (IRS) has released a proposed regulation reflecting statutory changes related to long-term, part-time (LTPT) employees made by the SECURE Act of 2019 (SECURE Act) and the SECURE 2.0 Act of 2022 (SECURE 2.0). This proposed regulation would...