Tag Archives: new IRS rules
New IRS Rules for IRAs
Recently, the Internal Revenue Service (IRS) revised its regulations regarding IRAs.
Benefits of the New IRA Regulations
The new IRS rules allow for increased flexibility in your individual retirement account (IRA). Some of the new provisions:
- Allow beneficiary rollovers from employer-sponsored retirement plans
- Eliminate the $100,000 income restriction required for a Roth Conversion
- Allow for a one-time Qualified Health Savings Account (HSA) funding distribution from your retirement account
- Permit withdrawals without penalty to cover damage due to Hurricanes Katrina, Rita or Wilma
What do I need to do?
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