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Are SEP and SIMPLE IRA contributions exempt from the bankruptcy estate under the new bankruptcy law? Rev. 06/09/05, E-mail Alert 2005-11 Yes. SEPs, SIMPLE IRAs, and rollovers (other than rollovers from one traditional IRA to another or from one Roth IRA to another) are exempt from the bankruptcy estate and are not included in the $1,000,000 IRA exemption limit established by the new law (which went into effect on October 17, 2005).
To learn more, call 973-492-1880 or e-mail info@mhco.com. © 2012, McKay Hochman Co., Inc. All rights reserved. |
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