Instead, the IRA stands for Individual Retirement Arrangement. What does IRA stand for? If you don't believe me, just check out IRS Publication 590. Irish Republican Army, republican paramilitary organization seeking the establishment of a republic, the end of British rule in Northern Ireland, and the reunification of Ireland. List of 357 IRA definitions. Similar to Traditional IRA rules, the lump-sum option does not require you to set up a separate account; beneficiaries of a Roth IRA may receive all assets in the Roth BDA IRA at once. IRA stands for Indian Removal Act of 1830. SEP IRA stands for Simplified Employee Pension Individual Retirement Account. Information for spousal and non-spousal IRA beneficiaries. In this case, the original owner of the IRA has passed away and the IRA money has been transferred to the beneficiary in the form of the decedent IRA. This definition appears somewhat frequently and is found in the following Acronym Finder categories: Military and Government; See other definitions of IRA. Saver's Credit Individuals may be able to take a tax credit of up to $1,000 if they make eligible contributions to an IRA. These plans are for business owners or self-employed individuals. When looking at your IRA, it may be titled with an "FBO" before your name, which means "for benefit of." Anyone can participate in a SEP IRA as long as they are over 21 years of age, make at least $600 in … An IRA is an account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis. An individual retirement arrangement, or IRA, is a type of investment or savings account that comes with tax benefits to help you save for retirement. Asset Information Reporting Codes for Form 5498; Form 5498 Errors by IRA Trustees, Issuers and Custodians May Cause Tax Trouble; SEP and SIMPLE IRA Plans It was created in 1919. Reporting . What does IRA stand for? Top IRA abbreviation meanings updated March 2021 Other Resources: Suggest new definition. An IRA is a retirement savings account with special tax-sheltered status that allows an investor to buy a wide variety of investments such as equities or real estate.   Roth IRAs also allow for tax-free and penalty-free withdrawals as long as the account is at least five years old and the original owner is at least 59.5. With that said, let's discuss what each of these three little words means in a little more detail. IRA does NOT technically stand for individual retirement account. Learn more about the IRA, including its history. It's right there on the cover. We originally used Bugzilla for bug tracking and the developers in the office started calling it by the Japanese name for Godzilla, Gojira (the original black-and-white Japanese Godzilla films are also office favourites). Like all good names in the software industry, it started as an in-house code name. A rollover IRA may be categorized as a traditional IRA, but it may also be categorized as a Roth IRA. A decedent IRA is an inherited IRA.
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