Appleby

I agree

Right…though when moving the assets from the SARSEP to a regular Traditional IRA, you may want to do so as a transfer, instead of as a rollover- law of averages says something will likely go wrong with the rollover, and may not with the transfer. Also, most financial institutions charge higher fees for SARSEPs than for regular traditional IRAs (TIRA). That would be one good reason to transfer the assets.

My understanding is that the plan, SEP or any other plan, must be established by the Partnership…not the individual Partner…and all eligible partners must receive plan contributions

Also, see the article at http://www.investopedia.com/articles/retir...t/05/011005.asp

I am not a tax expert- so I am unable to say whether the two would actually offset each other. However, eligible contributions to your SEP IRA deductible, and would therefore reduce income taxes you would owe…..I am assuming you are a business owner and has established a SEP for your business?

Two things 1- is it possible that you changed your e-mail address, and the confirmation was therefore being sent other than where you thought? 2- Did you get the e-mail below from Dave Baker? If you did not, it means your E-mail address on file with Benefitslink is different from the one you are using- which would be why you are not receiving the confirmation E-mail.

I know what you mean. I would feel the same. I forwarded your post to Dave Baker. If it is possible- he will fix it. Denise

Thanks much Denise

I am hoping that someone has a copy of PLR 9437042...and would be kind enough to provide me with a copy. Thanks Denise

Please see the attached Notice_2002_27.pdf

I agree…that can occur only if the trust is the beneficiary and inherits the IRAs after the IRA owner’s death. It would be interesting to see a ruling that provides otherwise

mjb, if U R unable to log-in under your old username, please see below for an excerpt from a related e-mail from Dave Baker

Right- a tax filing extension is not required. However, if the IRA owner filed his/her tax return by April 15…he/she receives an automatic extension of 6-months to remove the excess. Also, if the individual files for an extension to file his tax return, and files the return by the deadline of the extension ( usually August), the automatic 6-months extension from April 15 still stands for purposes of removing the excess…In summary, if the tax return is filed by the due date , including extension, the deadline to remove the excess is October 15. …otherwise, the deadline to remove the excess is April 15.

Just to add to jevd's response...…If the amount was rolled to the IRA this year ( 2005), it must be removed by the individuals tax filing deadline ( usually April 15) …if the individual filed his/her tax return by April 15 or file for an extension by April 15, the deadline for removing the excess extends to October 15,2006.

Then that (severance from employment) is a triggering event

I am with ya. That is my point of view as well- but see the article at http://www.72t.net/ArticleShow.aspx?WA=41 . Not that I believe everything I read, but I usually defer to Bill on 72(t) issues and he is one of the leading experts on the topic. If link above does not work, try this one. http://www.72t.net/Articles/ArticleShow.aspx?WA=41 Edited t6o add new link

Yes, if the plan allows for rollovers ( per design) and it has been at least two years since the first deposit was made to the SIMPLE IRA...also, there must be a triggering event for the 403(b)

You are welcome. Did you mean Notice 87-16 instead of Form 87-16? if so, it is available at www.irs.gov/pub/irs-tege/notice87_16.pdf

Bill, I am a little confused: Are the assets in a beneficiary/inherited IRA? If so, then a SEPP is not applicable or required for those assets…as the distributions are free from the 10 percent excise tax because they are “death distributions”. If the beneficiary is the surviving spouse of the decedent and had elected to treat the assets as his/her ‘own’ then I am with saabraa…although others who are experts in the field have disagreed with that opinion. See Revenue Ruling 2002-62 http://www.irs.gov/pub/irs-drop/rr-02-62.pdf

Lisa, it depends on the type of plan See http://www.investopedia.com/articles/retir...t/05/032305.asp

Use the reverse calculator at http://www.72t.net/Sepp/Irc72tReverseCalculator.aspx. This allows you to determine the account balance required to produce a pre-determined amount for each calculation method . The amount can be transferred to a separate IRA and the 72(t) distributions taken from that IRA

If someone moves to a new state, their withholding must be based on their new state of residence ( domicile). This went into effect 01/01/1996, under the Public Law No. 104-95 (Jan. 10, 1996), which prevents states from taxing former residents on income received from retirement asse

Al, Was one of your PLRs 200323012. If not, maybe this addresses your question?

I was unable to log-in and had to request that my password be sent to my e-mail address. Maybe they are unable to log-in? Denise

This is the new look.