Navigating IRA Rollovers and Transfers: A Three-Part Video Series with Heather Schreiber

Nov 9, 2023 | Videos

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Understanding the nuances of retirement accounts can be the difference between a secure financial future and unexpected pitfalls. Heather Schreiber, RICP®, NSSA®, in collaboration with Merit Financial Advisors, has crafted a three-part video series titled “Money on The Move” to guide you through the complexities of retirement plan and IRA rollovers and transfers.

Episode 1: Rollovers vs. Transfers and Avoiding Costly Mistakes

In our first episode, Heather Schreiber, the financial maestro from HLS Retirement Consulting, demystifies the terms that often perplex account holders and financial professionals alike. This session decodes the critical differences between direct and indirect rollovers, navigates the tricky terrain of federal withholdings, and clarifies the 60-day rollover rule. Heather emphasizes the importance of trustee-to-trustee transfers, offering them the ‘gold star’ status for their efficiency and safety in the IRA landscape.

Episode 2: Understanding the One Rollover Per 12-Month Rule

The second episode hones in on a less understood IRS regulation that could have significant repercussions if overlooked: the “One Rollover per 12-Month Rule.” This rule is a vital consideration for anyone with an Individual Retirement Account, including SEPs, SIMPLE IRAs, and Roth IRAs. Heather walks you through which rollovers are affected, the exemptions, and how to avoid adverse tax consequences. This is essential viewing for anyone looking to provide accurate financial advice without the sting of non-compliance.

Episode 3: Reporting Requirements and Understanding Form 1099-R

Our final episode tackles the reporting requirements for retirement account rollovers. Heather Schreiber sheds light on who is responsible for reporting rollovers and breaks down the complexities of IRS Form 1099-R. This knowledge is not just a must-have for tax season; it’s a year-round imperative to ensure compliance and informed decision-making for your clients’ retirement accounts.

These videos are not just educational tools but are also designed to be shared. We encourage you to pass this knowledge to colleagues and friends. Learning together strengthens our collective expertise and ensures we all grow as a community of informed professionals.

Closing Thoughts

With Heather Schreiber’s expertise at your fingertips, you’re now equipped to navigate the subtleties of retirement planning with confidence. Remember, in the world of financial planning, being informed is not just advantageous—it’s essential. Stay tuned with us as we continue to provide you with the resources you need to excel in the ever-evolving financial landscape.

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