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Category Archives: IRA Education

5 Important RMD Rules for IRA Holders

As the end of the year draws closer, many retirement account holders have required minimum distributions (RMDs) on their minds. If you’re over 70½ and have a Traditional, SEP or SIMPLE IRA, the IRS requires you take an RMD. Failing to do so (or failing to take the correct RMD amount) could result in penalties. […]

Retirement Terms of Endearment: Rollover IRA

Some retirement terminology is more complex or confusing than it needs to be. While much of it is born of the Internal Revenue Code and regulations like the Employee’s Retirement Income Security Act (ERISA), several commonly used but confusing words and phrases actually originated in the IRA service industry. Like all industries, ours is muddied […]

10 Self-Directed IRA Misconceptions

Kingdom Trust has previously posted articles from our IRA Myth Debunked series seeking to debunk some commonly-held misconceptions about investing. Unfortunately, despite our industry’s efforts to educate on the truth about Self-Directed IRAs, we still find a bevy of IRA misconceptions that are, for lack of a better term, fake news. In today’s post, we […]

What If I Contributed More to My IRA Than Is Allowed?

If you’ve contributed more to an IRA than is allowed by IRS rules, then you’ve made what’s called an excess contribution. As a result, you may be subject to additional taxes and penalties. However, you may have time to correct the excess contribution. And depending on how and when the correction is made, certain taxes […]