January 20 2022

Inherited a Retirement Account Recently? Here’s Why You Need to Know About the New 10-year Rule.

The SECURE (Setting Every Community Up for Retirement Enhancement) Act was passed in 2019, effective 2020. The act established a new 10-year rule, requiring certain beneficiaries to withdraw their entire inherited retirement account balance by Decemb...

August 12 2021

No 2020 Form 5500 Needed for Retroactive Qualified Plans

The IRS has announced that, for qualified retirement plans adopted in 2021 retroactive to the 2020 plan year, a 2020 Form 5500 will not be required.

May 21 2021

RMDs for Beneficiaries in Qualified Retirement Plans

When an employee in a qualified retirement plan dies, the employee’s account balance has to be distributed to the beneficiary at a certain rate over a certain timeframe. The money cannot stay in the plan forever. What is that timeframe? When do distr...