Get the free ascensus recharacterization form - kinecta

IRA CONTRIBUTION CHARACTERIZATION (FORM 2319) Please Print or Type Social Security Number QUID (Credit union will complete.) Credit Union Name IRA Owner's Name (First, Initial, Last)

How to fill out ascensus recharacterization form

How to fill out ascensus recharacterization form:

1. Obtain the ascensus recharacterization form from the Ascensus website or contact their customer service.
2. Fill out the personal information section, including your name, address, and social security number.
3. Indicate the type of recharacterization you are requesting, such as from a traditional IRA to a Roth IRA or vice versa.
4. Provide the details of the original contribution, including the amount, date, and type of IRA involved.
5. Specify the details of the new contribution, including the amount, date, and type of IRA involved.
6. Attach any necessary supporting documents, such as copies of previous IRA statements or contribution receipts.
7. Sign and date the form to certify the accuracy of the information provided.
8. Submit the completed form to Ascensus through mail or electronically, following their specific submission instructions.

Who needs ascensus recharacterization form:

1. Individuals who have made contributions to their Individual Retirement Accounts (IRAs) and wish to reverse or change the classification of those contributions may require an ascensus recharacterization form.
2. This form is particularly relevant for those who have made contributions to a traditional IRA and later decide to convert them to a Roth IRA, or vice versa, due to various financial considerations, tax implications, or retirement planning strategies.
3. It is essential to consult with a financial advisor or tax professional to determine if a recharacterization is appropriate for your specific financial circumstances.

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What is ascensus recharacterization form?

The Ascensus Recharacterization Form is a document that allows taxpayers to treat a contribution made to one type of individual retirement account (IRA) as if it had been made to a different type of IRA.

Who is required to file ascensus recharacterization form?

Any individual who made a contribution to an IRA and wants to recharacterize that contribution to a different type of IRA is required to file the Ascensus Recharacterization Form.

How to fill out ascensus recharacterization form?

To fill out the Ascensus Recharacterization Form, you need to provide your personal information, details about the original contribution, and the type of IRA you want to recharacterize the contribution to. The form must be submitted to the appropriate financial institution or IRA custodian.

What is the purpose of ascensus recharacterization form?

The purpose of the Ascensus Recharacterization Form is to allow taxpayers to correct any errors or change their IRA contribution type, ensuring that the contribution is treated correctly for tax purposes.

What information must be reported on ascensus recharacterization form?

The Ascensus Recharacterization Form typically requires information such as the taxpayer's name, address, Social Security number, details about the original contribution (amount, date, type of IRA), and the desired recharacterization details.