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IRS Will Allow You To Put Back That RMD You Took in Early 2020

by IRAR Trust Company on (July 28, 2020)

On March 27, 2020 the CARES Act became law in response to the COVID-19 pandemic. This new law included a provision to waive Required Minimum Distributions (RMDs) for 2020. In other words, the act allows individuals with an RMD due in 2020 to skip them this year.  However, many retirement account owners had already taken their required distributions prior to enactment of the new law.  

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Topics: Transfers & Rollovers, Distributions (RMD), Funding Methods

COVID-19 Loans, Distributions, or Withdrawals From Self Directed IRAs

by Jason Craig, President on (June 20, 2020)

The COVID-19 pandemic is challenging each one of us in different ways— some harder than others.  Many have started working remotely, or wear masks whenever they leave the house.  Many have been laid off, furloughed, or need to take care of a loved one who may have contracted the virus, or maybe became sick themselves.  We have all been affected.

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Topics: Self Directed IRA Rules, Transfers & Rollovers, Distributions (RMD), IRAR Clients

Taking Your RMD: 5 FAQs for Self-Directed IRAs

by IRAR Trust Company on (November 21, 2019)

Taking a required minimum distribution (RMD) can be challenging if you’re not sure what you’re doing. There are real tax consequences if you don’t do it right, so smart IRA investors know it’s important to take it seriously. Since self-directed IRAs deal with alternative and sometimes illiquid assets, this can seem complex. But at IRAR, we’ve seen it all— and we’re here to help.

Our team of experienced self-directed IRA experts is here to guide you through the process, answering real RMD questions from real SDIRA investors.

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Topics: Self Directed IRA Rules, Distributions (RMD), IRA & Taxes

How to Take a Distribution or RMD from your Real Estate IRA

by IRAR Trust Company on (November 16, 2019)

Investing in real estate is one of the most popular strategies for IRA Investors. Because of the tax-advantages of rental income, more and more investors are looking to plant their money in physical property. However, once you reach 70 ½ you may be subject to Required Minimum Distributions, or perhaps you have plans for the property in your IRA. To get the property into your name instead of the name of the IRA, you will have to distribute the property— and pay the associated taxes, which often isn’t feasible in one lump sum. We sat down with our experienced Real Estate IRA Experts to get a step-by-step breakdown of this process, as well as some tips to help you best plan your retirement strategy.

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Topics: Distributions (RMD), Real Estate IRA, IRAR Clients

Taking an RMD When Your IRA Has No Cash

by IRAR Trust Company on (September 25, 2019)

Do you have a Traditional IRA? If so, you’ll have to start taking Required Minimum Distributions (RMDs) eventually. Once you turn 70 ½, you’re required by the IRS to take out (and pay taxes on) a portion of your retirement savings. But for some people who don’t hold any cash in their self-directed retirement account, this causes momentary panic. I don’t have any cash in my self-directed IRA, how do I take my RMD? What do I do!?  

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Topics: Self Directed IRA Rules, Distributions (RMD)

How To Guide: Divide Your Self-Directed IRA Due to Divorce

by Connie Corpuz, Real Estate Associte on (June 19, 2019)

Unfortunately, sometimes people get divorced. It’s not fun, but it happens. If it does, you need to consider all the assets that need to be divided— and that includes your self-directed IRA (and IRAR’s here to help).

We do our best to keep this process as simple as possible. Splitting your self-directed IRA due to divorce doesn’t have to be a confusing or time-consuming process, even if everything else involved in this process sometimes feels that way.

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Topics: Self Directed IRA Rules, Transfers & Rollovers, Distributions (RMD)

How to Take a Distribution or RMD from Your IRA LLC

by IRAR Trust Company on (July 6, 2018)

If you're utilizing the ever-popular IRA LLC investing strategy (where your IRA owns an LLC, making all the investments through this entity), there may come a time you'll need to take a distribution from your account. But wait— if your funds are within the LLC, how do you handle this process? It's something that comes up often with self-directed IRAs, especially when handling required minimum distributions (RMDs). Here's what you'll need to know to manage this process simply and easily:

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Topics: Private Placements/LLCs, Distributions (RMD)

Early Distributions And Your Self-Directed IRA

by IRAR Trust Company on (May 4, 2018)

Sometimes you need to tap into your retirement fund before the IRS prefers you did. Though dipping into these funds is not recommended, we understand that unpredictable situations happen. But, if this is the best option for your circumstance, you will be subject to an early withdrawal penalty (unless you qualify for an exception) on top of typical income taxes. Is this still the right option for you? We’d love to help in any way we can. Here are the rules you’ll need to know when taking an early distribution with your self-directed IRA.

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Topics: Self Directed IRA Rules, Distributions (RMD)

Required Minimum Distributions (RMDs): The Who, What, Why, and How 

by Amanda Horstmann, Operations Specialist on (February 20, 2018)

One minor headache you’ll have to manage with almost any retirement account— at some point, you’ve got to start distributing the funds. Sometimes that was your plan all along, but having to do so on the IRS’ timeline? Unfortunately, whether you want to take out the money or not, once you hit 70 ½ you’ll have to start taking required minimum distributions (or RMDs), unless you have a Roth IRA. Confused about the process, or unsure of what to do to get started? Have no fear— IRA Resources will help make RMDs easy to understand, no matter your level of IRA experience. 

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Topics: Distributions (RMD)

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