Trending Topics Regarding the SECURE 2.0 ActTrending Topics Regarding the SECURE 2.0 Act
Common questions and answers.
As a consultant on the tax laws that govern individual retirement accounts and employer plans, I get many questions from advisors and wealth managers about the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) and SECURE 2.0 Act of 2022. Some of these questions arose during a recent Trusts & Estates webinar in which I participated.1 Here are some of the common questions I get and the answers.
Section 529 Plans to Roth IRAs
Q. Can a client roll over an Internal Revenue Code Section 529 plan (529 plan) to a Roth IRA?
A. SECURE 2.0 Act includes a provision that allows beneficiaries with Section 529 plans to roll over excess amounts that remain after completing their education to a Roth IRA. In this case, the “ben...
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