Appleby

Dawn, Assets from a pension plan cannot be deposited to a Roth IRA. This would be an excess contribution to the Roth IRA. To deposit assets from a pension plan to a Roth IRA, the assets must first be deposited to a traditional IRA (including a SEP IRA). Of course, the assets must be rollover-eligible. Then it would be converted (moved as a Roth IRA conversion) from the traditional IRA to the Roth IRA. At this point, it would be taxable.

Gary, I guess we agree then- I should have added 'Model '.

Gary, You have a typo - I think you meant to say 'does', instead of "does not ". It is the 5305-SEP that cannot be used if the employer maintains any other plan. The SEP prototype can be paired with a money purchase pension or profit sharing plan. I do not agree. A model document MAY also be used in this instance. See below. (gsl)

The attached list should help

You can integrate a SEP with social secuity. However, this cannot be done with the IRS Form 5305-SEP. Most custodians who adopt a prototype SEP, includes the SARSEP provision on the prototype form. However, the SARSEP provision has nothing to do with SSI, it ( the SARSEP provision) just happens to be on the SEP form that alos allows for SSI.

It depends- Take a look at this website www.selectaretirementplan.org

The employer's tax filing deadline, plus extensions

... and if it does, were the loan provisions followed, for example, loaning no more than $50,000 or 50% of vested balance?

See Barry's response on this link- it may help

Just so we are clear on how a SEP plan works. Step one- the employer signs the appropriate SEP document to 'adopt' the SEP IRA Step two- individual employees establish IRAs to which the employer will deposit contributions. As long as the employer does not find it to be an administrative burden with he/she cannot cope, individual employees may establish their IRAs anywhere. Some Custodians require the IRA to be designated a SEP IRA. Is this is the case, the individual employee must provide the custodian with a copy of the employer's SEP document, along with their IRA adoption agreement. And like Gary said, only an employer may ESTABLISH a SEP IRA

No. You must have taxable compensation to make a contribution to an IRA, , ( including Roth IRA)

David, In 1991, the IRS allowed two individuals, who happened to be sisters, to transfer their deceased father's IRA to another financial institution, which means that they had to sign adoption agreements on behalf of their father. One condition was that the IRA was maintained in the name of the deceased ( of course) However, for tax reporting purposes, the SS# used , would be that of the beneficiary. These are PLR's 9106044 and 9106045. One is attached. Your client may want to get his/her own PLR- it is always safer to err on the side of caution.

You're welcome. Let me know if you have any questions

Outside of the Consolidated Appropriations Act 2001 - let's look at the withholding rules. According to 3405(e)(B)(ii) any amounts "the portion of a distribution or payment which it is reasonable to believe is not includible in gross income…" is not subject to withholding. Roth IRA distributions, to the extent they are 'qualified' or , if not qualified, does not include earnings from a Roth IRA that has been held for less than 5-years, are not subject to income tax and therefore , not subject to withholding. If anything, any act or other law would be a clarification of the existing rules

It depends on your income as well as your marital status http://www.irs.gov/forms_pubs/pubs/p5900202.htm This link should help

If you are under age 59 1/2, you will be penalized (10 percent early withdrawal penalty). IRA owners are permitted to withdraw up to $10,000 from their IRAs, penalty free, is the amount is used towards the purchase of a first home. This is a once per lifetime limit. The definition of a 'first home' is a primary residence purchased by an individual who has not owned a primary residence for the past two or more years. You will also be taxed ( ordinary income tax) on the amount withdrawn, to the extent that it does not include a distribution of non-deductible dollars ( amounts representing non-deductible contributions)

You're welcome Jeanne

Click on this link http://fourmilab.com/uscode/26usc/w...-D-I-A-408.html this will take you to the related section of the Internal revenue code, i.e. 408. You will need to page down to see 408(h) To view other sections of the code , click on this link http://fourmilab.com/uscode/26usc/

I agree with Belgarath. There is no language in the IRC specifically prohibiting distribution and rolling back ( within 60-days), a distribution from an IRA that is on a 72(t) schedule.. Nevertheless, this is not permitted, as it would constitute a violation of the agreement- for the reasons already stated. As you may already know, the tax code is generally written in the affirmative. Mostly, aside from prohibited transactions and the like, it tells what you may do, not what you may not do. You should check with tax counsel regarding this.

Here is the link to the US TAx CODE 408 http://fourmilab.com/uscode/26usc/www/t26-...-D-I-A-408.html

Refer to IRC 408 (h)

You're welcome Jeanne, You have a good weekend too

No problem Jeanne, Click on the following link http://thomas.loc.gov/cgi-bin/bdquery/z?d1...0:@@@L&summ2=m&

On July 26, 2001, the president ( Bush) signed into law a measure that in effect changes the name of the Education IRA to "Coverdell Education Savings Accounts" . The new name is in honor of the late Paul Coverdell, who served as senator from Georgia from January, 1993 until his death in July, 2000. Under EGTRRA, the contribution limit for Education was increased to $2,000, effective for tax years beginning 2002.

Definately tax as income in China- it will not have any effect on the US income tax return