From the Slott Report. Good information and something we all walk around.
The IRA Owners' Bill of Rights ~ Ed Slott and Company – IRA, Tax, Retirement Planning Articles, Insight
Quote:
1. You have the right to move your IRA account at any time, and as often as you like
2. You have the right to convert any or all of your traditional IRA to a Roth IRA at any time
3. You have the right to recharacterize (undo) all or any portion of a Roth IRA conversion for any reason up until October 15 of the calendar year following the year you convert
4. You have the right to name anyone you want as your beneficiary
5. You have the right to change your beneficiaries at any time
6. You have the right to take a distribution from your account at any time
7. You have the right to withhold 0%, 10%, or more than 10% from your IRA distributions
8. You have the right to invest in just about anything you want, other than life insurance, S-Corp stock and collectibles
9. Your have the right to do whatever you want with your retirement funds, after you distribute them
10. You have the right to make good decisions that will save you valuable tax dollars and make your retirement account worth much more over the course of your life and the lives of your beneficiaries. Similarly, you also have the right to make poor choices that will cost you and your loved ones valuable tax dollars
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I copied the list from the page. There are the actual points that were implied with the article. Read the article for more but these are the BLUF (bottom line up front points).