Join now!   |   Subscribe   |   Pay an Invoice   |   Sign In
News & Press: State Legislative and Regulatory News

IRS Revenue Ruling Spells Out Requirements for IRA Holders

Thursday, June 28, 2018   (0 Comments)
Share |

The biggest issue arising in June was the IRS Revenue Ruling stating that traditional IRA holders must withhold 10 percent tax and issue a 1099-R when reporting unclaimed property to the states. This ruling appears to be written with banks in mind, but it presents significant issues for the securities industry. UPPO is working with the Holders Coalition and other organizations whose members are likely to be affected by this ruling to formulate a strategy for raising these issues with the IRS and other agencies, such as the SEC and FINRA, which may have conflicting opinions on the practice. 


Membership Software Powered by YourMembership  ::  Legal