Endearing NDIRA
Show me the Money!
Rules Schmules
Account-able
Code Breaker
100
Mainstar Trust
What is the name of our custodial bank?
100
Pay taxes up front; earnings are tax free
What is a Roth IRA?
100
Earned income in the US
Who is eligible to open an IRA?
100
1974
What is the year IRAs were established?
100
4975
What is the section in the tax code that describes disqualified persons?
200
CoBiz
What is the name of our depository bank?
200
$5500
What is the contribution limit for a traditional or Roth IRA for individuals under 50?
200
Tax Day
What is deadline for traditional and Roth contributions?
200
IRA
What is 'Individual Retirement Arrangement'?
200
Prohibited transaction
What is an IRA deal with a disqualified person?
300
Administrator
What is New Direction IRAs role in the IRA?
300
Provides tax advantages for retirement funds
What is the benefit of an IRA?
300
Two years
What is the length of time a SIMPLE IRA must be open to transfer to another custodian?
300
Tax deferred account, max. contribution = $5500 ($6500 if over 50)
What is a Traditional IRA?
300
60 days
What is the amount of time to re-deposit funds before they turn into a taxable distribution?
400
5498
What is the form used to report IRA values to the IRS?
400
$1000
What is the catch-up contribution amount for individuals over 50?
400
59 and a half
What is the age you can receive IRA distributions without a penalty for early withdrawal?
400
Good for self-employed persons
What is a SEP IRA?
400
Life insurance and collectibles
What are the two investments not allowed through an IRA?
500
In-kind distribution
What is the distribution of an asset?
500
$53,000
What is the SEP contribution limit for 2016?
500
Rollover request
What is a way to move funds that is initiated by the client?
500
Employer match
What is a SIMPLE IRA?
500
Bank
What is the entity required by law to hold IRA owned assets?
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