Individual Retirement Arrangements

URI: https://gptkb.org/entity/Individual_Retirement_Arrangements

GPTKB entity

Statements (50)

Predicate	Object
gptkbp:instanceOf	retirement savings account
gptkbp:abbreviation	gptkb:IRA
gptkbp:advantage	tax-deferred growth tax-free growth (Roth IRA)
gptkbp:annualReport	gptkb:IRS_Form_1099-R gptkb:IRS_Form_5498
gptkbp:benefit	account holder designated beneficiary
gptkbp:catchUpContributionLimit2023	$1,000
gptkbp:compatibleWith	borrowing from IRA using IRA as collateral
gptkbp:contribution	earned income
gptkbp:contributionDeadline	tax filing deadline
gptkbp:contributionLimit2023	$6,500
gptkbp:country	gptkb:United_States
gptkbp:custodian	gptkb:bank brokerage
gptkbp:earlyWithdrawalPenalty	10%
gptkbp:eligibility	individuals with earned income
gptkbp:establishedBy	gptkb:Employee_Retirement_Income_Security_Act_of_1974
https://www.w3.org/2000/01/rdf-schema#label	Individual Retirement Arrangements
gptkbp:investedIn	bonds mutual funds stocks ETFs CDs
gptkbp:maximumLoanAmount	gptkb:Roth_IRA
gptkbp:minimumDistributionAge	73
gptkbp:nonDeductibleContributions	gptkb:Roth_IRA
gptkbp:noRequiredMinimumDistributions	gptkb:Roth_IRA
gptkbp:penalty	disability medical expenses first-time home purchase qualified education expenses substantially equal periodic payments
gptkbp:prohibitedInvestments	collectibles life insurance contracts
gptkbp:purpose	retirement savings
gptkbp:regulates	gptkb:Internal_Revenue_Service
gptkbp:requiredMinimumDistributions	gptkb:Traditional_IRA
gptkbp:rolloverAllowed	401(k) to IRA IRA to IRA
gptkbp:taxDeductibleContributions	Traditional IRA (subject to income limits)
gptkbp:type	gptkb:SIMPLE_IRA gptkb:Roth_IRA gptkb:SEP_IRA gptkb:Traditional_IRA
gptkbp:website	https://www.irs.gov/retirement-plans/individual-retirement-arrangements-iras
gptkbp:bfsParent	gptkb:IRS_Form_5329
gptkbp:bfsLayer	6