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IMPORTANT INFORMATION ABOUT 2013 IRA CONTRIBUTIONS
 
You can still make IRA contributions for 2013 until April 15, 2014. Remember, we must receive 2013 contributions no later than April 15, so make sure to mail them to us early enough to meet the deadline.  Contributions received after April 15 will be reported as 2014 contributions. Include a CONTRIBUTION DESIGNATION form with your check.
 
IMPORTANT - IRS CHANGES THE RULES REGARDING 60-DAY ROLLOVERS

The IRS recently changed its position on the rules regarding 60-day rollovers. Historically the IRS has held that the rule regarding 60-day rollovers applies to each IRA. In fact, on page 25 of the 2013 Publication 590, the IRS gives an example of this.

The IRS position now is that an individual is entitled to one 60-day rollover in a twelve month period, regardless of how many IRAs the individual may have.  THIS IS A SIGNIFICANT CHANGE. The IRS has provided transition relief in Announcement 2014-15.

Liberty Trust Company is uniquely qualified to assist you in all your retirement planning, whether you are an individual investing your IRA funds or a business owner with a sophisticated qualified plan.

 



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