Compliance Center: DOL Releases Final Fiduciary Rule Amendments

The Department of Labor (DOL) recently released the Final Rule defining the circumstances in which a person who provides investment advice in connection with a retirement plan or individual retirement arrangement (IRA) acts as a fiduciary under the Employee Income Security Act (ERISA).

Left-Behind 401(k) Accounts: Here Are Two Common Mistakes to Avoid

If you have a 401(k) account still being administrated by a former employer, avoid two common—and potentially very costly—mistakes people make in this situation: cashing out the account early or ignoring the account.

Compliance Question of the Week

We have several IRA accounts that were opened 10 or more years ago. Our statements are being returned, and our members have not contacted us. At what point do these become dormant and get sent to the state?

Compliance Question of the Week

If a member inherits funds from his mother’s traditional IRA, can the member “roll over” the inherited funds from the mother’s account into a new IRA account?

Compliance Question of the Week

How should I title an inherited IRA?

IRA Essentials Workshop: An Energetic Twist on Retirement Savings

There is still time to register for Paul Kern’s IRA Essentials Workshop. Scheduled for October in both Oregon and Washington, attendees will gain the IRA knowledge necessary to confidently work with IRA owners and process basic IRA transactions.

IRAs Rock According to Training Consultant Paul Kern

On a constantly changing compliance landscape, IRA training is advised every year. Paul Kern will lead an October workshop for NWCUA members, and promises to make a typically complex topic fun to learn.

Inherited IRA is Insured, but Tax Issues Can be Complicated, says NCUA

According to the June 6 letter, the NCUA’s regulations provide share insurance coverage for a member’s IRAs up to $250,000 that is separate from the member’s other accounts at the same credit union.