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Form Name & Function Online PDF Mail Email
IRA Options Form
  • Update your bank information
  • Add telephone and internet privileges to your account
  • Change your name on the account
  • Add an Automatic Investment Plan (AIP)*
  • Elect document e-delivery*
*Update available online
IRA Beneficiary Designation Form
  • Designate a beneficiary or change the beneficiary designation on your existing Dodge & Cox Funds IRA
FAQS

Below are some commonly asked questions regarding updating an IRA.

Contributions and Deductions
  • Can I contribute to a traditional IRA for my spouse?

    For each year before the year when your spouse attains age 70½, you may contribute to a separate traditional IRA for your spouse, regardless of whether your spouse had any compensation or earned income in that year. This is called a “Spousal traditional IRA.” To make a contribution to a Spousal traditional IRA, you and your spouse must file a joint tax return for the year in which the contribution applies. For a Spousal traditional IRA, your spouse must establish his or her own traditional IRA, separate from yours, to which you contribute.

    Of course, if your spouse has compensation or earned income, your spouse can establish his or her own traditional IRA and make contributions to it in accordance with the rules and limits described in Part One of the IRA Disclosure Statement.

  • When can I make contributions to a traditional IRA?

    You may make a contribution to your existing traditional IRA or establish a new traditional IRA for a taxable year by the due date (not including any extensions) for your federal income tax return for the year. Usually this is April 15 of the following year. Contributions are voluntary and do not have to be made every year.

  • How much can I contribute to my traditional IRA?

    For each year you are eligible, you may contribute up to the lesser of the maximum dollar amount allowed for the year or 100% of your compensation (or earned income, if you are self-employed). However, under the tax laws, all or a portion of your contribution may not be deductible.

    The maximum amount allowed if you are under age 50 is $5,500 for 2013 and thereafter (subject to increases for inflation in $500 increments). The maximum amount allowed if you are age 50 or older is $6,500 for 2013. Thereafter, the maximum amount is $1,000 more than the maximum amount for the year for those under age 50.

    If you make contributions to both traditional and Roth IRAs, the combined limit on contributions for a single calendar year is the maximum dollar amount indicated above.

    If you are married and file a joint tax return, you and your spouse can each make IRA contributions even if only one of you has taxable compensation. The amount of your combined contributions can’t be more than the taxable compensation reported on your joint return. It doesn’t matter which spouse earned the compensation.

  • How do I know if my contribution is tax deductible?

    The deductibility of your contribution depends upon whether you were an active participant in any employersponsored retirement plan during the year for which the contribution was made. If you were not an active participant in such a plan, the entire contribution to your traditional IRA is deductible.

    If you were an active participant in an employersponsored retirement plan, your traditional IRA contribution may still be completely or partly deductible on your tax return. The amount you may deduct depends on the amount of your income.

    Similarly, the deductibility of a contribution to a traditional IRA for your spouse depends upon whether your spouse was an active participant in any employer-sponsored retirement plan during the year for which the contribution was made. If your spouse was not an active participant in such a plan, the contribution to your spouse’s traditional IRA generally will be deductible. If your spouse was an active participant, the traditional IRA contribution will be completely, partly, or not deductible depending upon your combined income.

    An exception to the preceding rules applies to highincome married taxpayers, where one spouse is an active participant in an employer-sponsored retirement plan and the other spouse is not. A contribution to the non-active participant spouse’s traditional IRA is only partly deductible starting at an adjusted gross income (AGI) level on the joint tax return of $178,000 for 2013. The deductibility is phased out as described below over the next $10,000 so that there will be no deduction allowed with an AGI level of $188,000 or higher for 2013.

  • How do I determine my or my spouse's active participant status?

    Your (or your spouse’s) Form W-2 should indicate if you (or your spouse) were an active participant in an employer-sponsored retirement plan during the year. If you have a question about your status, you should consult your employer or plan administrator.

    In addition, regardless of income level, your spouse’s active participant status will not affect the deductibility of your contributions to your traditional IRA if you and your spouse file separate tax returns for the taxable year and lived apart at all times during the taxable year.

  • What are the deduction restrictions for active participants?

    If you (or your spouse) are an active participant in an employer-sponsored retirement plan during a year, the contribution to the active participant’s traditional IRA for the year may be completely, partly, or not deductible depending upon your filing status and your amount of AGI.

  • How do I calculate my deduction if I fall in the “partially-deductible” range?

    If your modified AGI falls in the partially deductible range, (i.e., between the lower and upper limits) you must calculate the portion of your contribution that is deductible. To do this, see IRS Publication 590. The section “How much can you deduct” provides an explanation of how to determine your modified AGI, your coverage and filing status for purposes of deductibility, and a worksheet to help you figure if your IRA contribution is partly deductible or not deductible.

    Even if part or all of your contribution is not deductible, you may still contribute to your traditional IRA (and your spouse may contribute to your spouse’s traditional IRA) up to the IRA Contribution Limit for the year. When you file your tax return for the year, you must designate the amount of non-deductible contributions to your traditional IRA for the year. See IRS Form 8606 and IRS Publication 590 for more details.

  • How do I determine my Modified AGI?

    Modified AGI is your gross income minus those deductions which are available to you even if you do not itemize deductions on your tax return. Instructions to calculate your Modified AGI are provided with your income tax Form 1040 or 1040A.

  • Can I contribute to a Roth IRA for my spouse?

    If you meet the eligibility requirements you can not only contribute to your own Roth IRA, but also to a separate Roth IRA for your spouse out of your compensation or earned income, regardless of whether your spouse had any compensation or earned income in that year. This is called a “Spousal Roth IRA.” To make a contribution to a Spousal Roth IRA, you and your spouse must file a joint tax return for the year to which the contribution applies. For a Spousal Roth IRA, your spouse must establish his or her own Roth IRA, separate from yours, to which you contribute.

    Of course, if your spouse has compensation or earned income, your spouse can establish his or her own Roth IRA and make contributions to it in accordance with the rules and limits described in this section.

  • When can I make contributions to a Roth IRA?

    You may make a contribution to your existing Roth IRA or establish a new Roth IRA for a taxable year by the due date (not including any extensions) for your federal income tax return for the year. Usually this is April 15 of the following year. Contributions are voluntary, and do not have to be made every year.

  • How much can I contribute to my Roth IRA?

    For each year you are eligible, you may contribute up to the lesser of the maximum dollar amount allowed for the year or 100% of your compensation (or earned income, if you are self-employed). The maximum amount allowed if you are under age 50 is $5,500 for 2013 and thereafter (subject to increases for inflation in $500 increments). The maximum amount allowed if you are 50 or older is $6,500 for 2013. Thereafter, the maximum amount is $1,000 more than the maximum amount for the year for those under age 50. The overall annual limit for contributions to traditional and Roth IRAs combined (but not SEP or SIMPLE IRAs) is the maximum amount indicated above.

    If you are married and file a joint tax return, you and your spouse can each make Roth IRA contributions even if only one of you has taxable compensation. The amount of your combined contributions can’t be more than the taxable compensation reported on your joint return. It doesn’t matter which spouse earned the compensation.

    For taxpayers with high income levels, the contribution limits may be reduced or eliminated (see below).

  • Are contributions to a Roth IRA tax deductible?

    Contributions to a Roth IRA are not tax deductible. This is one of the major differences between Roth IRAs and traditional IRAs.

Rules and Requirements
  • What happens to my IRA when I die?

    The assets remaining in your IRA will be distributed upon your death to the beneficiary(ies) that you designate when you establish your Dodge & Cox Funds—State Street Bank and Trust Company IRA. You may change your beneficiary(ies) at any time by notifying the Custodian in writing or by completing a Beneficiary Designation Form. If there is no beneficiary designated for your IRA in the Custodian’s records, upon your death your IRA will be paid to your estate (unless otherwise required by the laws of your state of residence). If there is no primary beneficiary(ies) living and you did not elect per stirpes designation at the time of your death, payment of your IRA will be made to the surviving alternate beneficiary(ies) designated by you.

    There are IRS rules on the timing and amount of distributions required after the IRA owner’s death. If you die before the date your traditional IRA distributions must begin (and for Roth IRAs, no matter when you die) your IRA balance, at the election of your designated beneficiary(ies), must be distributed either: (1) by December 31 of the calendar year that contains the fifth anniversary of the date of your death; (2) to a designated beneficiary beginning by the end of the year following the year of your death and paid over the life expectancy of the beneficiary or over a period of years that does not extend beyond the life expectancy of the designated beneficiary; or (3) to a surviving spouse under certain conditions. Your designated beneficiary for this purpose must be determined by September 30 of the year following the year of your death. If your spouse is your designated beneficiary, your spouse may defer the start of distributions until you would have reached age 70½, had you lived, or your spouse may roll over the IRA into another IRA in your spouse’s name and treat the IRA as his or her own.

    If you die after the date your traditional IRA distributions must begin and your designated beneficiary is an individual, the remaining balance in your traditional IRA must be distributed to your designated beneficiary over his or her life expectancy. Your designated beneficiary must be determined by September 30 of the year following the year of your death. If your traditional IRA beneficiary is your surviving spouse, your spouse may roll over the traditional IRA into another traditional IRA in his or her name and treat the traditional IRA as his or her own.

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