Compensation Strategies Group, Ltd.
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|Large IRAs and High-Income Retirement Savers Targeted by Amendment to Budget Reconciliation Bill|
Ropes & Gray LLP
Sept. 21, 2021
"[S]ome of the key retirement plan rule modifications found in Chairman Neal's amendment:  Prohibition on rollovers to Roth IRAs and certain Roth conversions ...  Prohibition of certain private investments by IRAs ...  Contribution limit for retirement account balances of $10 Million or More ...  New reporting mandate for aggregate account balances exceeding $2.5 million ...  Extension of the statute of limitations with respect to IRA noncompliance."
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