Support Home IRAs IRAs What is the difference between a Traditional IRA and Roth IRA? What is the maximum annual contribution for an IRA? What is the deadline for making IRA contributions in a given year? What is an RMD? What is the proper input for the Financial Disclosure at the end of the IRA opening process? At what age can you no longer contribute to an IRA? How do you withdrawal from an IRA CD? IRA CD’s-How to Redeem and/or Add Funds IRA withdrawal How many days do you have to redeposit withdrawal into your IRA to avoid taxes? How do you change member information in Ascensus? How many Traditional IRAs may an owner have? Does the MIP Program apply to IRAs? Can you Title your IRA in the name of a living trust? If a minor has earned income, can they open an IRA? What is the difference between a SEP and Traditional IRA? When interest rates fall, must existing IRA owners receive amended financial disclosures? Must an IRA owner name a beneficiary, and, if so, what information should a financial institution obtain for them? May an IRA owner name more than one primary beneficiary? Is the last day to make a Traditional IRA contribution on December 31st? Is a mailed IRA contribution that is postmarked on or before the deadline (generally April 15th) but received after the deadline considered to have been made in a timely fashion? May a Traditional IRA owner make an IRA contributions in a current year for the next tax year? An IRA owner has a CD worth $5,000. If it's not an IRA CD, can someone put their CD in their Traditional IRA and treat that as an IRA contribution? What is the maximum amount an individual may contribute to a Traditional IRA as a spousal contribution? May an IRA owner make a spousal contribution to a Traditional IRA of their spouse who died earlier in the year? What is a prior year IRA Contribution? What type of income is considered eligible compensation to make a Traditional IRA contribution? Maximum Annual Gross Income for IRAs in 2023 What is the difference between a Traditional IRA transfer and a Traditional IRA Rollover? What documentation is required when completing a Traditional IRA transfer? A surviving spouse beneficiary wants to treat her deceased husband's Traditional IRA as her own. Should she transfer or rollover the assets? Can an IRA owner transfer his IRA assets to his spouse's IRA? What steps should we take when faced with a situation involving a divorce decree that affects Traditional IRA assets? Is it true that IRA owners can roll over only one IRA distribution per year? When does the 12-month period start for purposes of the one-per-12 month rollover rule? Are Traditional IRA owners allowed to borrow money from their IRA for short-term cash flow problems? What is a direct rollover? What is an indirect rollover? Must we deposit the entire amount of an IRA rollover check if the member changes their mind and wants to cash some out? When must IRA owners begin taking money out of their Traditional IRAs? How to calculate Required Minimum Distributions? If someone has multiple retirement accounts, must the RMD be calculated separately on each account and removed proportionately? Traditional IRA owners should take their first RMD by April 1 of the year following the year in which they become RMD age. Does the April 1 deadline apply to RMDs required for all subsequent years? If a Traditional IRA owner distributes more than the RMD amount, can the excess amount that was distributed be used to reduce the required distribution for next year? An IRA owner would like to aggregate his RMDs from his 401(k) plan and his Traditional IRA and remove the aggregate amount from his Traditional IRA. Is this allowed? An IRA owner designated a qualified Trust as the beneficiary of her Traditional IRA. How do I calculate a distribution period for RMDs? Must IRA owners take RMDs if they are still working? If an IRA owner dies before taking his RMD, what should be done? Is there a penalty for failing to provide the withholding election notice for IRAs? What amount must be withdrawn from a Traditional IRA if an IRA owner wants to walk away with $5,000 but requests 10 percent federal withholding? Can IRA Contributions be pledged?