Appleby

That employee must receive a SEP contribution for 2025.

You are right,except: Not only would they need eligible compensation, but the MAGI caps apply. It's October 15, not 31. Technically, April 15 (tax filing due date) with an automatic 6 month extension if they file by tax filing due date. Technically, NIA, which can be earnings or losses If the deadline is missed, a 6% excise tax would be owed on the excess

Agree with Peter. But I know from experience that TIAA will not "treat that estate’s ultimate taker as if she were the plan’s beneficiary or at least a distributee". Also, this sounds like a non-ERISA 403(b), since the spouse is not the default beneficiary. If they are saying the estate is 50% beneficiary, they should be able to explain how and why they cam to that conclusion. Assuming they are right- she might be able to rollover any distribution (made to the estate), to her own IRA ( many PLRs have allowed such rollovers). In this case, it would be her treating herself as the distributee- but she must consult with her CPA or attorney with expertise in such rollovers before completing any such rollover. No- there is no such thing as a see-through estate. PS; the See-through trust would affect only the calculation and the option for rollover. Generally, rollovers are not permitted for estates, but the IRS have made exceptions in cases like the one you describe.

Here is a thread TL;DR

The Roth was created as a conversion from a traditional IRA in 2010 so it was formed more than 5 years ago. Spouse is designated income beneficiary of the trust for the rest of her life, and then his children and grandchildren become the income beneficiary. The corpus of the trust will be distributed when the children/grandchildren attain a certain age. If he dies now, is the spouse required to fully distribute the Roth IRA by the end of the required 10 years period? If the spouse dies before the 10 year period will the children/grandchildren be required to distribute the remaining balance of the Roth IRA within 10 years of the Roth owners death? What is his objective for naming a trust as beneficiary, instead of her? Can his goal be accomplished by naming her as the beneficiary, instead of the trust? If he names her as beneficiary, she could move it to her own Roth IRA , where RMDs would not apply, and name her children/grandchildren as beneficiaries. If he names the trust as beneficiary, whether the 10-year rule applies, or the life expectancy rule ( over her single life expectancy) depends on trust language. Depending on the type of trust, either of the following could apply: The 5-year rule the 10-year rule A choice between the 10-year rule and the life expectancy rule. The trust attorney must review the trust to determine whether it meets the requirements that would meet his desired goal and objectives.

It appears you are looking for someone with expertise in prohibited transactions? You might not find an expert with a banner that says 'experience with solo 401ks' . Look for an expert that audits qualified plans- period, as that would cover SoloK plans. Or an expert in self-directed accounts. The rules are not different for SoloK plans. Good luck!

The 2024 RMD would be the decedent's (the IRA owner) RMD. The waiver does not apply to the IRA owner. And it does not apply to beneficiaries who are not subject to the 10-year rule.

I don't have a cite handy. But you are right. Otherwise, participants could bypass the triggering event requirements via an in-plan conversion.

What type of account is it? With some types of plans, you are the beneficiary by default, unless you signed away your right to be the beneficiary. And, there are some that allows the account owner to name a beneficiary other than you, if they want to. The beneficiary form might have information that tells you the type of account. The most recent beneficiary form they have on file is that one that counts, unless it is overridden by the terms of the plan.. If you are not the beneficiary, they will not/cannot share information with you about the plan/account. Your financial advisor should be able to help. A good place to start is a conference call (with you and your advisor) to the plan administrator.

The 10% penalty no longer applies. SECURE Act 2

A return of excess is the only way for the 'correction' to be done on the IRA side.

The IRA 12/31/24 balance must be increased by the rollover amount. whoever does the RMD calculation must increase the 12/31/24 fair market value by any such rollover that is not in the IRA by 12/31/24

This is an easy fix. If you talk to someone at the bank that works with IRAs, they should be able to fix it quickly and easily. Depending on who you connect with, it can get hairy- but it shouldn't if you get to the right person.

You are right. Her election to move it to her own IRA in 2023 is effective 2023. Therefore, the only RMD that she needs to take is his, if he did not take it.

No. That is not OK. Those beneficiary accounts must be kept separately- particularly because the RMD calculations are different, and because that is the regulatory requirement. His wife should have two IRAs. (1) A beneficiary IRA for the one he inherited from his father. Registered in her name and her husband's name. (2) An IRA with the amount she inherited from her husband's own IRA. She can move this to her own IRA, or to a beneficiary registered in her name and her husband's name.-her advisor should advise which of the two is more suitable for her. His niece should also have two IRAs. (1) A beneficiary IRA for the one he inherited from his father. Registered in her name and her uncle's name. (2) A beneficiary IRA for the amount he had in his own IRA- that too should be registered in her name and her uncle's name. They should contact the IRA custodian and have them fix these errors.