Now that we have discussed a Roth IRA and what types of requirements apply to this form of retirement account, explain the general guidelines for taking distributions from this form of retirement account.
What are some of the requirements that determine whether a distribution is a qualified distribution or non- qualified in nature when it applies to a Roth IRA?
What are some of the post death distribution rules and how do we establish our Roth IRA with these rules under consideration?
Using the definitions of both the traditional and Roth IRA’s, explain what a rollover is and why we would ever want to consider doing one? What types of rules apply to performing a rollover?
In performing a rollover, there may be specific situations where the process does not work properly, or becomes defective in its execution. How do we handle a defective rollover situation? What types of penalties apply to this type of situation?
Explain a Coverdell Education Savings Account to include their objectives, purpose, and how transfers and rollovers are performed for these types of accounts.
Explain how we would rollover an IRA to a qualified plan and all of the considerations we would want to review first.
Discuss how we would rollover an IRA to a health savings account and the considerations we would want to consider.
Professional Development Question
Explain the rollover process in its entirety, to include how to rollover from each of the following:
Coversdell ESA to a Roth IRA
Qualified Plan to an IRA
Simple IRA’s to Roth IRA’s
IRA’s to Qualified Plans
Designated Roth accounts to Roth IRA’s
IRA’s to Health Savings Accounts