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February 19, 2009




Amount paid from a retirement plan as a reportable transaction. A distribution can  be processed as a direct rollover  or paid to the participant.

Referring Cite

IRC § 401(a)(9) for RMDs, IRC § 72(t) for early distribution penalties,  IRS Publication 590 for IRAs, IRS Publication 575 for qualified plans, Treas. Reg. 1.401-1(b)(1)(ii)) for triggering events

Additional Helpful Information

  • A distribution that is not rolled over within 60-days must be included in the distributee’s (participant , beneficiary or alternate payee )  income for the year.

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Qualified Charitable Distribution (QCD)

Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches

Saver’s Credit

Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit

Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

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IRA Rules