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CHAPTER 5
INDIVIDUAL RETIREMENT ARRANGEMENTS (IRAs)
§ 5.01 Overview of Taxation of Participants in IRAs
-----[1] Taxable Portions of IRA Distributions
-----[2] Penalty Tax on Premature Distributions
-----[3] Transfers from an IRA to Another IRA or Plan
-----[4] Transfer from an IRA to a Health Savings Account
-----[5] Taxation of Collectibles
-----[6] Consequences of Prohibited Transactions
-----[7] Assignment of Rights in an IRA
-----[8] Effect of Loans or Pledges
-----[9] Income Tax Withholding
§ 5.02 Definition and Categories of IRAs
§ 5.03 Administration of IRAs
-----[1] General Administrative Considerations
-----[2] Investment in Collectibles by Individual Retirement Accounts
-----[3] Prohibited Transactions of Individual Retirement Accounts
-----[4] Borrowing, Pledging, or Assignment of IRA Funds
----------[a] Treatment of Assigned IRA Funds
----------[b] Individual Retirement Annuity Loans and Pledges
----------[c] Individual Retirement Account Loans and Pledges
----------[d] Bankruptcy Proceedings
§ 5.04 Penalty Tax on Premature IRA Distributions
-----[1] Penalty Tax Applies in the Absence of an Exception
-----[2] The Age or Disability Exception
-----[3] The Substantially Equal Payments Exception
-----[4] Other Exceptions
§ 5.05 Taxation of IRA Distributions
-----[1] General Rules for Taxation of IRA Distributions
-----[2] Investment in IRAs
-----[3] Nontaxable Portion of IRA Distributions
-----[4] Timing of an IRA Distribution Relative to a Rollover from a Qualified Retirement Plan
-----[5] Withdrawal of After-Tax Excess Contributions
-----[6] IRA Distributions Not Taxed on Separate Return of Spouse
-----[7] Deduction of Loss on Final Distribution
-----[8] IRA Distributions Paid Directly to Charities
-----[9] IRA Funds Transferred to a Health Savings Account
§ 5.06 Nontaxable Transfers or Rollovers to a Different IRA or Plan
-----[1] Transferring Funds in General
-----[2] Choice of Indirect Rollover or Trustee-to-Trustee Transfer
-----[3] Requirements for an Indirect Rollover
----------[a] 60-Day Requirement
----------[b] Potential Waiver of the 60-Day Requirement
----------[c] Extension of the 60-Day Period for Frozen Accounts
----------[d] Only One Indirect Rollover Per Year
-----[4] Rollovers that Include Retiree Investment
----------[a] Components of a Distribution before Rollover
----------[b] Indirect Rollover to Another IRA
----------[c] Trustee-to-Trustee Rollover to Another IRA
-----[5] Rollover within Two Years of Funds in a Simple IRA
-----[6] Rollover Available Only to a Beneficiary Who is a Surviving Spouse
§ 5.07 Transfers of IRAs Incident to Divorce or Legal Separation
§ 5.08 Surviving Spouse’s Election to Become Owner of IRAs
§ 5.09 Inherited IRAs
§ 5.10 Exempt Charitable Organization as an IRA Beneficiary
§ 5.11 Tax-Free Restorative Contributions
§ 5.12 Tax Withholding from IRA Distributions
§ 5.13 Estate or Gift Tax Imposed on IRA Benefits
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INDIVIDUAL RETIREMENT ARRANGEMENTS (IRAs)
§ 5.01 Overview of Taxation of Participants in IRAs
-----[1] Taxable Portions of IRA Distributions
-----[2] Penalty Tax on Premature Distributions
-----[3] Transfers from an IRA to Another IRA or Plan
-----[4] Transfer from an IRA to a Health Savings Account
-----[5] Taxation of Collectibles
-----[6] Consequences of Prohibited Transactions
-----[7] Assignment of Rights in an IRA
-----[8] Effect of Loans or Pledges
-----[9] Income Tax Withholding
§ 5.02 Definition and Categories of IRAs
§ 5.03 Administration of IRAs
-----[1] General Administrative Considerations
-----[2] Investment in Collectibles by Individual Retirement Accounts
-----[3] Prohibited Transactions of Individual Retirement Accounts
-----[4] Borrowing, Pledging, or Assignment of IRA Funds
----------[a] Treatment of Assigned IRA Funds
----------[b] Individual Retirement Annuity Loans and Pledges
----------[c] Individual Retirement Account Loans and Pledges
----------[d] Bankruptcy Proceedings
§ 5.04 Penalty Tax on Premature IRA Distributions
-----[1] Penalty Tax Applies in the Absence of an Exception
-----[2] The Age or Disability Exception
-----[3] The Substantially Equal Payments Exception
-----[4] Other Exceptions
§ 5.05 Taxation of IRA Distributions
-----[1] General Rules for Taxation of IRA Distributions
-----[2] Investment in IRAs
-----[3] Nontaxable Portion of IRA Distributions
-----[4] Timing of an IRA Distribution Relative to a Rollover from a Qualified Retirement Plan
-----[5] Withdrawal of After-Tax Excess Contributions
-----[6] IRA Distributions Not Taxed on Separate Return of Spouse
-----[7] Deduction of Loss on Final Distribution
-----[8] IRA Distributions Paid Directly to Charities
-----[9] IRA Funds Transferred to a Health Savings Account
§ 5.06 Nontaxable Transfers or Rollovers to a Different IRA or Plan
-----[1] Transferring Funds in General
-----[2] Choice of Indirect Rollover or Trustee-to-Trustee Transfer
-----[3] Requirements for an Indirect Rollover
----------[a] 60-Day Requirement
----------[b] Potential Waiver of the 60-Day Requirement
----------[c] Extension of the 60-Day Period for Frozen Accounts
----------[d] Only One Indirect Rollover Per Year
-----[4] Rollovers that Include Retiree Investment
----------[a] Components of a Distribution before Rollover
----------[b] Indirect Rollover to Another IRA
----------[c] Trustee-to-Trustee Rollover to Another IRA
-----[5] Rollover within Two Years of Funds in a Simple IRA
-----[6] Rollover Available Only to a Beneficiary Who is a Surviving Spouse
§ 5.07 Transfers of IRAs Incident to Divorce or Legal Separation
§ 5.08 Surviving Spouse’s Election to Become Owner of IRAs
§ 5.09 Inherited IRAs
§ 5.10 Exempt Charitable Organization as an IRA Beneficiary
§ 5.11 Tax-Free Restorative Contributions
§ 5.12 Tax Withholding from IRA Distributions
§ 5.13 Estate or Gift Tax Imposed on IRA Benefits
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an attorney, accountant, or other professional; and the author is not offering legal, accounting, or
other professional advice. The material presented on this website is not intended for use, and may
not be used, to avoid tax penalties. If you need legal advice or other professional help, you should
seek (from an independent attorney, accountant, or other competent professional) advice based on
your own particular circumstances.
matter covered. However, the information provided on this website is not a substitute for the advice of
an attorney, accountant, or other professional; and the author is not offering legal, accounting, or
other professional advice. The material presented on this website is not intended for use, and may
not be used, to avoid tax penalties. If you need legal advice or other professional help, you should
seek (from an independent attorney, accountant, or other competent professional) advice based on
your own particular circumstances.