Archive for the ‘SIMPLE IRA Rules’ Category
Simple Ira Rules
September 4th, 2005
Question: IRS Rules about substantially equal premature IRA withdrawals???
Hypthetical situation: I’m 45 and have enough money in my Roth IRA to retire. Is it really as simple, as using the life expectancy table and dividing my balance by that number each year to withdraw from my Roth so I can never work again? No penalty for early distribution, and no taxes since it is a Roth?
Answer: That is generally correct. Of course, with IRS rules there are additional hoops to go through.
Read the details in IRS Publication 590 (Individual Retirement Arrangements), Roth IRAs, starting with “Are Distributions Taxable?” (starting on p. 65)
http://www.irs.gov/pub/irs-pdf/p590.pdf
What is a SIMPLE IRA? By John Colegrove
Posted in SIMPLE IRA Rules | 
Tags: investment, ira, retirement, roth,, rules, SIMPLE IRA Rules, simple ira rules for 2010, simple ira rules for employers | 
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