How Do I Know If I Broke the IRA Rules?
November 30th, 2008 by admin
If you think you might have broken any of the IRA rules, then you should first consult your financial advisor if you have one.
If you do not know who your financial advisor is, look at the top of your IRA statement. There is usually a name of the advisor who looks after your IRA account.
If you cannot find a name, call the financial institution that is your IRA custodian. You need to verify if you have broken the rules. If so, you can also consult an attorney or pay the fine. The IRS will not mind even if you broke the rules as long as you pay up.
Posted in Reference
