The determination of whether a Roth 401(k) rollover is permitted is based on whether the funds were a 401(k) rollover, employee deferral, or employer profits sharing contribution
The account owner is taxed at his or her income tax rate on the amount of the withdrawn RMD
The IRA or retirement plan account owner is ultimately responsible for calculating the amount of the RMD.
A RMD is calculated for each account by dividing the prior December 31st balance of that IRA or retirement plan
first RMD payment can be delayed until April 1st of the year following the year in which he or she turns 70 ½.
An RMD is the minimum amount that individuals must withdraw from their retirement account annually once they reach age 70 ½
Excess IRA Contribution – Is this Bad? Typically, an excess IRA contribution is the amount that you contribute to your Traditional IRA and Roth IRA for…
For 2010 and 2011, the most that an individual can contribute to a traditional IRA or Roth IRA generally is the smaller of
A distribution from a designated Roth account must be reported on Form 1099–R,
The plan administrator is responsible for keeping track of the amount of designated Roth contributions made