Presented by Denise Appleby

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Overview

Description:

There are multiple options for funding a Roth IRA. Each option is subject to a strict set of rules, and breaking any of these rules could negate the tax benefits of the Roth IRA. When done right, these funding options can help to create tax-free income for a Roth IRA owner and their beneficiaries. This IRAByte™ will demonstrate how to operate within the regulatory limitations for funding Roth IRAs, thus avoiding excise taxes and penalties that applies to overfunding.

Bits

  i.               Regular Roth IRA contributions and the applicable limitations
  ii.               The backdoor Roth IRA contribution strategy.
  iii.               Direct Roth conversions
iv.               The special rules for indirect Roth conversions
 v.               Rollovers from employer plans to a Roth IRA
  vi.               529 to Roth IRA contributions
vii.               Identifying and correcting Roth IRA excess contributions
   viii.               Tax reporting requirements for Roth funding

 Learning Objectives

Advisors who attend this module should be able to: -

• ·                   Explain the different ways in which a Roth IRA can be funded.
• ·                   Help clients avoid costly Roth funding errors.
• ·                   Explain the aggregation rules for Roth funding options.