Recharacterization
The portion that is required to be recharacterized as cash unless the whole account is being recharacterized.
What are earnings?
The tax year(s) a Correction can be processed for a request made in 2025.
What are 2024 and 2025?
Where the Recode appears.
What are the Retirement Center in Profile Canvas and Form 5498?
How a client can submit a request for their Full Service Wealth Management account.
What is reaching out to their advisor?
The form required to submit a Return of Excess Contribution request.
What is the IRA Distribution Request for Withdrawal, Rollover or Return of Excess Contribution (Self-Directed Investing) form?
The request deadline for a 2024 contribution.
What is October 15, 2025?
How a client can request a Correction due to their own error.
What is this cannot be submitted, they must look at other options for their funds/speak to a tax advisor?
The required information on the LOA to be completed by the client.
What is the account number, the date of transaction, the correction request including amount, and the client signature and date of signature?
Tax form(s) produced from Roth Conversion.
What are the 1099-R and 5498 Forms?
Tax form(s) produced from a Return of Excess Contribution.
What is a 1099-R?
Tax form(s) produced from a Recharacterization.
What are a 1099-R Form and 2 5498 Forms?
Tax reporting done if the initial deposit was a transfer.
What is a non-reportable money movement to the contra firm?
When Recode requests cannot be submitted.
What are the last two weeks of May?
How a client can reverse their Roth Conversion.
What is they cannot, they must reach out to a tax advisor for help and questions?
How the client can avoid the 6% excess tax.
What is by withdrawing the excess contributions from their IRA by the due date of individual income tax return including extensions and withdrawing any income earned on the excess contribution?
Where a client can get help calculating their earnings or loss.
What are a qualified tax professional and/or IRS Publication 590 A > Excess Contributions > Worksheet 1-3?
The required information for an LOA for a request due to overpayment or reclaiming funds.
What is the account number, date of transaction, correction request including amount and reason, and client signature and date?
Where the client can mail their LOA to.
What is J.P. Morgan Securities LLC, 10 S. Dearborn Street, Chicago, IL 60603?
How a client making $500k a year can fund a Roth IRA.
What is a back door Roth?
The amount of request forms needed for 3 contributions made in 2025.
What is 1 form?
The amount of Recharacterization forms the client needs to submit for 3 contributions made in 2024 and 2 contributions made in 2025.
What are 2 forms?
The required information for an LOA for a request due to JPMS error.
What is the account number(s), date of transaction, correction request including amount and reason, signature of MD/Service Center manager and date of signature, client signature if correction results in tax form correction, and a copy of check, documentation of source or funds, and/or client signature if moving funds from one account to another?
The types of contribution(s) that can't be recoded.
What are systematic contributions, contributions made into a Traditional IRA to an employer contribution, future-dated contributions, and current year contributions made after the tax filing deadline to a prior year?
The year(s) a Roth Conversion is reported for a managed account that took an IGO request initiated on 12/27/2024 the full time to be completed.
What is 2025?
How a client can submit a request for an excess contribution amount already invested in TSLA in their SDI IRA.
What is first liquidating the stock, and then submitting the request form?