IRS Publication 590
IRS Publication 590

An IRA (Individual Retirement Account) IRS Publication #590, allows you to save for Retirement – Tax Deferred.   We generally fund them with Annuities  It’s like a bank account, but with an Insurance Company and it can give you a GUARANTEED income for life.

Annuity Proposal

Retirement Income Estimator

Table I-2. How Are a Traditional IRA and a Roth IRA Different?

Official IRS Pamphlet on Business Retirement Options # 3998

If you ever worked for a company or put money into a plan, but do not remember where it is, etc. try these ideas to locate your missing retirement funds.

Annuity Proposal

Related Pages  Retirement Planning

Tax Facts
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INDIVIDUAL RETIREMENT PLANS

 

In General

 

3560. What is an individual retirement account? What is a Roth individual retirement plan?

 

3561. What is a “deemed IRA”?

 

3562. What information must be provided to a buyer of an IRA?

 

3563. What is the “saver’s credit” and who can claim it?

 

3564. When are funds in an IRA taxed?

 

3565. How are earnings on an IRA taxed?

 

3566. Are IRAs subject to attachment?

 

Eligibility

 

3567. Who may establish an IRA?

 

3568. May a person contribute to an IRA for a spouse?

 

3569. When must contributions to IRAs be made?

 

3570. How much may an individual contribute to a traditional IRA? How much may an individual deduct?

 

3571. How much may an individual contribute to a Roth IRA?

 

3572. Can an individual roll over or convert a traditional IRA or other eligible retirement plan into a Roth IRA?

 

3573. What is “compensation” for purposes of IRA eligibility rules and deduction limits?

 

3574. Who is an “active participant” for purposes of IRA eligibility rules and deduction limits?

 

3575. Are fees or commissions paid in connection with an IRA deductible?

 

3576. Is interest paid on amounts borrowed to fund an IRA deductible?

 

3577. What is the penalty for making excessive contributions to an IRA?

 

3578. When can IRA contributions be withdrawn or reduced?

 

Distributions

 

3579. How are amounts distributed from a traditional IRA taxed?

 

3580. How are amounts distributed from a Roth IRA taxed?

 

3581. Are the death proceeds of an individual retirement endowment contract taxable?

 

3582. Are amounts received from IRAs subject to withholding?

 

Early Distributions

 

3583. What penalties apply to early distributions from an IRA?

 

3584. How are substantially equal periodic payments from an IRA calculated for purposes of IRC Section 72(t)?

 

Required Minimum Distributions

 

3585. What are the minimum distribution requirements for individual retirement plans, and what is the effect of failing to meet these requirements?

 

3586. How are the minimum distribution requirements met during an IRA owner’s lifetime?

 

3587. How are the minimum distribution requirements met after the death of an IRA owner?

 

3588. Who is a “designated beneficiary” for purposes of required minimum distributions from an IRA? What are the rules for multiple beneficiaries and separate accounts?

 

3589. What are an IRA trustee’s reporting requirements with respect to required minimum distributions?

 

Filing Requirements

 

3590. What IRS filing requirements does an individual retirement plan participant have to meet?

 

Employer-Sponsored IRAs

 

3591. May an employer contribute to an IRA on behalf of an employee? May an employer or union establish an IRA for its employees or members?

 

Simplified Employee Pension (SEP)

 

3592. What is a simplified employee pension?

 

3593. What is a SAR-SEP? What requirements must be met if a simplified employee pension is offered on a cash or deferred basis?

 

SIMPLE IRA

 

3594. What is a SIMPLE IRA plan?

 

3595. How are SIMPLE IRA plan contributions taxed?

 

Estate Tax Issues

 

3596. Is the value of a survivor benefit payable under an IRA includable in the decedent’s gross estate?

 

3597. Is a marital deduction available for the value of a survivor benefit payable under an individual retirement plan that is includable in the decedent’s gross estate?

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