Tag: RMD
IRS clarifies RMD rules on inherited IRAs but tax implications loom
The IRS and Treasury Department issued final regulations reflecting updates from the SECURE Act and SECURE 2.0 Act affecting retirement plans, IRAs, and beneficiaries, addressing additional issues related to Required Minimum Distributions (RMDs) of inherited retirement accounts. Specifically, the IRS...
Delay RMDs by rolling IRAs and prior 401(k) balances into current employer’s plan
Transferring IRAs and former employer's 401(k) retirement plans into a current employer's 401(k) plan can offer a strategy for individuals facing required minimum distributions (RMDs) while still actively working. Once these retirement assets are rolled over into the current employer's...