Show:
TRADITIONAL IRA
ROTH IRA
MISC.
ROLLOVERS
I R A? U R A!
100
T OR F: CONTRIBUTIONS MAY BE TAX DEDUCTIBLE IF ELIGIBILE
What is TRUE
100
WHAT IS REQUIRED IN ORDER TO CONTRIBUTE TO THIS IRA?
What is EARNED INCOME
100
T OR F: MONEY GROWS TAX FREE WHILE IN BOTH ACCOUNTS- TRADITIONAL AND ROTH
What is TRUE
100
T OR F: SPOUSE MUST BE BENEFICIARY TO AT LEAST 75% OF IRA (IF NO SIGNATURE)
What is F- 50%
100
AN EXAMPLE OF A CONVERSION WOULD BE
What is THE MOVEMENT OF ASSETS FROM A TRADITIONAL IRA TO A ROTH IRA
200
THE LAST DAY/DATE A CONTRIBUTION CAN BE MADE FOR THE PRIOR YEAR
What is APRIL 15TH
200
CONTRIBUTION LIMIT FOR 2014/2015
What is $5,500 WITH AN ADDITIONAL $1,000 FOR AGE 50 AND OLDER
200
THE ACRONYM "RMD" STANDS FOR THIS
What is REQUIRED MINIMUM DISTRIBUTION
200
IN ORDER TO FILE A DEATH CLAIM, THIS DOCUMENT IS REQUIRED
What is A DEATH CERTIFICATE
200
WHO TO CONTACT BEFORE DISTRIBUTING FUNDS FROM AN IRA AFTER AN OWNER'S DEATH
What is ASCENSUS
300
THE AGE AT WHICH AN IRA HOLDER MUST TAKE A REQUIRED MINIMUM DISTRIBUTION (RMD)
What is 70 1/2
300
WITHDRAWALS ARE TAX FREE IF YOU MEET THIS CRITERIA
What is 59 1/2 OR OLDER AND ACCOUNT IS AT LEAST 5 YEARS OLD
300
ROLLOVERS ALLOWED PER YEAR
What is 1
300
A DIRECT TRANSFER REQUIRES THIS
What is AN ESTABLISHED IRA
300
AN EARLY WITHDRAWAL PENALTY OF WHAT PERCENT APPLIES WHEN WITHDRAWING FROM A TRADITIONAL IRA BEFORE AGE 59 1/2
What is 10% PENALTY
400
THE MINIMUM AGE AT WHICH NO PENALTY APPLIES TO WITHDRAW FROM IRA
What is 59 1/2
400
T OR F: YOU ARE REQUIRED TO WITHDRAW MONEY FROM THIS IRA?
What is FALSE
400
LENGTH OF TIME YOUR MONEY IS ACCESSIBLE DURING A ROLLOVER
What is 60 DAYS
400
MOVING FUNDS FROM A 401K TO AN IRA IS AN EXAMPLE OF THIS
What is A DIRECT ROLLOVER
400
WHAT DOES IRA STAND FOR
What is Individual Retirement Arrangement
500
AT WHAT TIME DO YOU PAY TAXES ON THE FUNDS?
What is AT THE TIME OF WITHDRAWAL
500
THE TIME WHEN CONTRIBUTIONS BECOME TAX DEDUCTIBLE
What is NEVER
500
AMOUNT OF DIRECT ROLLOVERS PERMITTED PER YEAR
What is NO LIMIT
500
PENSION PLANS AND 401KS ARE EXAMPLES OF THIS
What is A QRP- QUALIFIED RETIREMENT PLAN
500
IN THIS TYPE OF IRA, YOU CAN LEAVE THE MONEY IN IT FOR AS LONG AS YOU WANT
What is A ROTH IRA