In-depth coverage of the administration and operation of Roth IRAs!! Roth IRA Answer Book, Sixth Edition by Gary S. Lesser, Denise Appleby, Gregory Kolojeski List Price: $355.00 Eligible for Free Standard Shipping on U.S. Prepaid Orders Imprint: Aspen Publishers ISBN: 9780735584556 Format: Hardcover Publication Cycle: Updated annually Last Updated: 10/2/2012 Automatic Supplementation More Info.

Description Roth IRA Answer Book, Sixth Edition, provides an up-to-the-minute tutorial on this subject for a wide variety of professional markets, including pension consultants, insurance agents, financial planners and investment advisors, plan administrators, lawyers, and accountants, as well as businesses that promote, market, service, or provide technical support to retirement plans, products, and related services. You'll find in-depth coverage of the administration and operation of a Roth IRA, as mandated by the Internal Revenue Code, Treasury regulations, and other IRS guidance. Written by a team of practicing experts preeminent in their fields, Roth IRA Answer Book takes the reader, step by step, through the creation, operation, and extinction of a Roth IRA. Topics covered include the following: How a Roth IRA is established, how documents are designated, and how a Roth IRA may be revoked Trustee and custodian disclosure requirements and governmental form reporting requirements - Forms 1099-R, 5329, and 8606 Limits on contributions, including the contribution phase-out rules, and the definition of modified adjusted gross income (MAGI) How the taxation of a Roth IRA distribution depends upon the source of funding for the amount distributed How abusive transactions having the effect of shifting value from a preexisting business into a Roth IRA for less than fair market value may be challenged How the contribution recovery rules under the ordering rules determine whether a Roth IRA distribution consists of annual contributions, conversions from an eligible retirement plan, other rollover contributions, or earnings How to make and treat a rollover (conversion) from an eligible retirement plan to a Roth IRA Which taxpayers will benefit most from a conversion, and when (especially in a declining investment environment) can a conversion be undone in a recharacterization How Roth IRAs may be used to enhance overall wealth-transfer planning The treatment of penalty-free distributions from an eligible retirement plan for special purposes, such as hurricane distributions, qualified recovery assistance distributions, qualified disaster recovery distributions, and qualified reservist distributions How and when special-purpose distributions may be repaid (rolled over) to an eligible retirement plan, including a Roth IRA And more! Roth IRA Answer Book has been updated to include: Discussion of the procedural guidance issued in December 2010 to drafters of pre-approved model and prototype IRAs and Roth IRAs, including rules for when documents must be submitted to the IRS Explanation of the new procedures for applying to the IRS for an opinion letter When the IRS lost an "abusive transaction" case Analysis of the 2010 proposed regulations broadly redefining when a person is considered to be a "fiduciary" by reason of giving investment advice The new in-plan Roth rollover rules and the guidance issued in Notice 2010-84 regarding the distribution and taxation of in-plan rollovers The status of an inherited Roth IRA under evolving Federal Bankruptcy rules Several new appendix charts have been added covering: Rollovers by participants Rollover of inherited assets RMDs upon death of beneficiary Distributions to beneficiaries The extension of designated Roth contribution features to governmental 457(b) plans Amendments to the definition of compensation to include differential wage payments Recent law developments about whether a power of attorney is or is not effective to permit a participant's agent to name a beneficiary How the law about IRAs' and other retirement plans' death benefits is sometimes similar to, but often quite different from, the law that applies to a person's disposition of his or her other wealth Application of the required minimum distribution (RMD) rules to an inherited Roth IRA Discussion of statutory changes since the 2002 mandatory changes relating to the qualification of Roth IRAs, including changes that: Allow for the repayment of qualified hurricane distributions Eliminate the $100,000 modified adjusted gross income limit and the joint filing requirement for certain qualified rollover contributions Treat combat zone compensation to be taken into account for purposes of making a contribution Allow rollovers into Roth IRA from eligible retirement plans Allow for the repayment of reservist distributions Allow for nonspouse beneficiary rollovers Treatment of certain military death gratuities as qualified rollover contributions The repayment of disaster distributions The extension of the qualified charitable distribution rules Clarification of when the beneficiary of an inherited Roth IRA can take a RMD from a different Roth IRAs The rollover of amounts received from military death gratuity or service members' group life insurance, and amounts received as part of an airline payment Discussion of the nonstatutory variables that affect decisions regarding Roth IRA conversions View the Highlights for this title. Table of Contents 1. Introduction to Roth IRAs Establishing a Roth IRA Model Roth IRA Documents Records Retention Revoking a Roth IRA Prototype Roth IRA Documents Prohibited Transactions and Related Definitions Miscellaneous Rules 2. Annual Contributions to a Roth IRA Limits on Annual Contributions Phaseout Rules Age and Plan Participant Status Annual Contribution Deadline Excess Contributions Tax Credits for Contributions Deemed Roth IRAs Payroll Deduction Roth IRA Programs 3. Conversion, Contribution Recharacterization, and Rollovers Conversion of Traditional IRA to Roth IRA Eligibility Taxation Valuing Annuity Contracts Converted to a Roth IRA Contribution Recharacterization SEP IRA/SIMPLE IRA Rollovers Deemed IRAs Rollover of Military Death Gratuities and SGLI Payments Rollover of Exxon Valdez Settlement Qualified Reservist Distribution Repayments Qualified Hurricane Distribution Repayments Qualified Recovery Assistance Distributions Repayments (Kansas Disaster Area) Qualified Disaster Recovery Assistance Distribution Repayments (Midwestern Disaster Areas) Rollover of Airline Payments 4. Voluntary Distributions Qualified Distributions Nonqualified Distributions Five-Year Exclusion Periods 10 Percent Premature Distribution Penalty Withholding Transfers Between Roth IRAs Transfers Incident to Divorce Deductions for Losses Demutualization Deemed Roth IRAs Qualified Roth IRA Contribution Programs (Designated Roth Contributions) 5. Required Minimum Distributions Five-Year Rule Beneficiaries Subsequent Beneficiaries Penalties Tax Matters Deemed Roth IRAs 6. Financial Planning The Basic Considerations AGI/MAGI Conversion Considerations State Law Considerations Inherited IRA Life Insurance to Pay Estate Tax 7. Roth IRA Trusts Drafting Considerations Roth IRA Trust Distribution Rules Generation-Skipping Trust Funding Clauses Disclaimers Taxation Permissible Transfer QTIPing a Roth IRA 8. Beneficiary Designations and Estate Planning Making a Beneficiary Designation Using Trusts Family Rights That Restrain a Beneficiary Designation Charitable Gifts Simultaneous Death; Absentees Marriage Spouse's Rights Disclaimers Government Claims Unclaimed Property Tax-Oriented Estate Planning Qualified Domestic Trust for an Alien Giving Advice 9. Required Reporting for Roth IRAs Reporting Roth IRA Contributions on Form 5498 Information to Be Provided to IRA Owner (or Beneficiary) Deceased IRA Owner Recharacterization Contributions Revoked Roth IRAs Penalties Records Retention Reporting Roth IRA Distributions on Form 1099-R When Form 1099-R Is Not Used Conversion Recharacterization Revoked Roth IRAs Correcting1099-Forms Penalties Merger of Trustees and Custodians Records Retention Federal Income Tax Return (Form 8606) 10. Designated Roth Contribution Programs Contributions to Designated Roth Accounts Designation Roth Accounts Distributions from Designated Roth Accounts Rollovers of Designated Roth Contributions Excess Contributions Reporting and Recordkeeping Requirements for Designated Roth Accounts APPENDIX A: Roth IRA Charts and Tables Traditional IRA and Roth IRA Comparison Chart for 2009 Traditional IRA Deduction Restrictions for Active Participants Restrictions on Roth IRA Contributions for High-Income Taxpayers Roth IRA Distribution Taxation Traditional/Roth IRA Eligibility for 2009 - married Traditional/Roth IRA Eligibility for 2009 - single Distribution to Beneficiary Chart IRA and Roth IRA Distribution Flowchart Annual Roth IRA Contribution Limits MAGI Phaseout Chart APPENDIX B: Extracts from Relevant Code Sections (As of June 1, 2008) Code Section 408A: Roth IRAs APPENDIX C: IRA Legacy Trust - Sample Provisions IRA Legacy Family Revocable Trust IRA Legacy Family Trust - For Benefit of Children and Issue of Any Deceased Child - Separate Shares IRA Legacy Grandchildren's Trust APPENDIX D: Extracts from Treasury Regulations Preamble, Final Treasury Regulations Section 1.408A Preamble, Final Treasury Regulations Section 1.408A-4 Treasury Regulations Section 1.408A-1 through 1.408A-10 APPENDIX E: Revenue Procedures, Announcements, and Notices Revenue Procedures 2006-13, 2006-3 IRB 315 Notice 2007-7, Section IX, 2007-5 IRB 395 Notice 2006-44, 2006-20 IRB 889 Announcement 2008-44, 2008-20 IRB 892 Announcement 2007-55, 2007-1 I.R.B. 1384 Notice 2008-30, 2008-12 IRB 638 Notice 2004-8, 2004-4 IRB 333 APPENDIX F: Pension and Welfare Benefits Administration (PWBA) Opinion Letter APPENDIX G: Lists of Required Modifications and Information Packages (LRMs) Roth IRA List of Required Modifications and Information Package (Dated: May 2007) Cash or Deferred Arrangement (CODA) List of Required Modifications and Information Package (Dated: January 2006) APPENDIX H: Employee Benefit Limits TABLES INDEX Related Products Journal of Pension Planning & Compliance Bruce J. 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