Regional Vice President of Sales The Retirement Plan Company
|
Bates & Company, Inc.
|
AimPoint Pension
|
Loan & Distribution Specialist AimPoint Pension
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Compass
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
If You Have NFTs in Your Retirement Account, Beware
Seyfarth [Guidance Overview] Mar. 23, 2023 "[IRS Notice 2023-27] suggest that many NFTs may be considered 'collectibles' ... [T]he acquisition of a collectible by an IRA or an individually-directed account under a tax-qualified plan will be treated as a taxable distribution equal to the cost of the collectible ... [It] is unclear what the treatment will be of NFTs that were already acquired and are being held in a retirement account, but only deemed collectibles upon the effective date of final IRS guidance." |
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |