No credit card, no obligation Financial Professionals only
Already a Horsesmouth member?
Schwab and Fidelity say investors are pouring money into Roth IRAs after the government did away with the income cap.
An obscure IRS notice appears to torpedo the practice of taking a partial distribution of the after-tax dollars from 401(k) plans while doing a direct rollover of the pretax dollars into an IRA. According to a recent IRS notice, any partial direct rollover of plan assets to an IRA or another retirement plan forces the allocation of the after-tax portion to both the funds rolled over and to the funds distributed directly.
As assets in IRAs scale six or seven figures, mistakes can be painfully expensive. One error is to fail to vet the IRA custodian—especially if your client is moving to a more self-directed or esoteric account. Here are 18 questions to ask a prospective custodian, along with advice for helping your clients avoid taxes, fees, penalties, and loss of principal and earnings on IRA savings.
IMPORTANT NOTICE This material is provided exclusively for use by Horsesmouth members and is subject to Horsesmouth Terms & Conditions and applicable copyright laws. Unauthorized use, reproduction or distribution of this material is a violation of federal law and punishable by civil and criminal penalty. This material is furnished “as is” without warranty of any kind. Its accuracy and completeness is not guaranteed and all warranties express or implied are hereby excluded.
Social Security and Medicare Workshop
With Elaine Floyd, CFP®
May 12–15, 2025
The Discovery Meeting Workshop: Transform Your Discovery Process
May 19–20, 2025