States IRA Bankruptcy Exemptions

State-By-State Analysis of Individual Retirement Accounts As Exempt Property*

* Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), qualified plan, SEP, and SIMPLE assets are protected with no dollar limitation. IRAs and Roth IRAs are protected to $1,000,000 ($1,283,025 with COLAs). However, rollover assets in an IRA are not subject to the $1,283,025 limit. BAPCPA only applies to assets in bankruptcy. One must look to state law for protection of IRA assets in state law (e.g.,garnishment) actions or other creditor claims outside of bankruptcy.

© Copyright 2018 by Richard A. Naegele, J.D., M.A.