Roth Conversions

9/16/2019

Requests for Roth conversions that require an asset to be re-registered must reach Mainstar Trust before the end of October in order for the transfer agent to process the change. A Conversion is not considered complete until the confirmation of re-registration is received from the transfer agent.

IRA 72(t) Payment Pros and Cons

The tax advantages available for saving in an IRA are intended to encourage saving for retirement. To discourage early use of IRA assets, an additional 10% tax applies to withdrawals taken before an IRA owner reaches age 59½.

What is a “Prohibited Transaction”?

A “prohibited transaction” is the improper use of an IRA investment by the IRA owner or certain related parties. The prohibited transaction rules are designed to ensure that the tax advantages provided by IRAs are producing retirement savings—not benefitting IRA owners’ shorter-term investment strategies.

Keep Your Retirement Funds Safe with an IRA Rollover

If you’re changing jobs or retiring, you have an important decision to make: what to do with retirement plan savings accumulated from former employers.

Roth Conversions

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