Latest news with #Flaten
Yahoo
01-05-2025
- Business
- Yahoo
The 1 Thing You Can't Do With Your Required Minimum Distributions in Retirement
Many retirees favor tax-deferred accounts like traditional IRAs for their long-term growth potential. However, once Required Minimum Distributions (RMDs) begin, the IRS wants its share. Some retirees look to Roth IRAs as a way to grow their savings tax-free, but there's one big restriction. Here's the one thing you can't do with your RMDs in retirement and smarter strategies to achieve long-term benefits. Read Next: Try This: When it comes to RMDs, there's one hard rule that often surprises retirees: they can't be converted to a Roth IRA. It's a common misunderstanding and one that can complicate tax planning if not addressed early. 'Required Minimum Distributions or RMDs, cannot be converted into Roth IRAs because, by the time they happen, it's simply too late,' said Samuel Flaten, certified financial planner (CFP) and partner at Narrow Road Financial Planning. 'The IRS mandates that once you reach a certain age — currently 73, depending on an individual's date of birth — you must begin taking distributions from your pre-tax retirement accounts like IRAs or 401(k) [plans].' Discover Next: Allowing conversions of RMDs would let taxpayers bypass the very tax the IRS requires them to pay in retirement. If an individual has taken an RMD for the year, that portion cannot be contributed or converted and attempting to do so could trigger penalties. 'People hear about Roth conversions being smart tax moves and assume they can apply them to anything, including RMDs,' Flaten said. 'But the rule is clear: RMDs must be withdrawn and taxed and only funds above and beyond the RMD amount can be converted to a Roth.' Many retirees don't realize they've waited too long to start thinking about tax strategy until their first RMD arrives. What seems like a routine withdrawal can trigger a cascade of financial consequences that catch even diligent savers off guard. 'By then you've lost most of your flexibility,' Flaten said. 'In some cases, RMDs can be much larger than expected, especially if you've saved diligently or had strong market returns. When those large distributions hit your tax return, they can cause all kinds of unintended consequences – higher Medicare premiums, more of your Social Security being taxed or just jumping into a higher bracket altogether.' An overlooked factor is the years leading up to the RMD age, which is a critical window for proactive tax planning. 'If your goal is to reduce future RMDs or minimize the taxes they bring, the best thing you can do is start planning well before they begin. The most powerful strategy is Roth conversions during the early retirement years — after you've stopped working but before RMDs and Social Security begin,' Flaten said. 'During this window, your income may be unusually low, which gives you the chance to fill up lower tax brackets with intentional conversions,' Flaten explained. 'You're effectively pre-paying tax at a rate you can control, which can dramatically reduce RMDs later and create a pool of tax-free income in the future.' In addition, Flaten said some employer plans even allow in-plan Roth conversions or backdoor Roth contributions while individuals are still in the workforce. Even retirees who are already subject to RMDs still have meaningful tax-planning opportunities. For those who give to charity, the Qualified Charitable Distribution (QCD) offers a way to fulfill their RMD while keeping that amount out of their taxable income. A QCD allows retirees to send up to $108,000 annually directly from their IRA to a qualified charity. The amount counts toward their RMD but is excluded from their taxable income. 'For clients who are already charitably inclined, this can be a game changer,' Flaten said. 'I've had more than one client give generously out of their bank account without receiving any tax benefit, simply because they didn't itemize. The QCD bypasses that issue altogether.' The smartest move of all is early planning. 'The earlier you start planning, the more choices you'll have,' Flaten said. 'RMDs aren't inherently bad, but without a strategy, they can feel punitive. Thoughtful planning, especially in the years leading up to them, can soften the blow and even turn them into part of a broader retirement income plan. The mistake is waiting too long to act.' More From GOBankingRates Mark Cuban: Trump's Tariffs Will Affect This Class of People the Most How Far $750K Plus Social Security Goes in Retirement in Every US Region How To Get the Most Value From Your Costco Membership in 2025 12 SUVs With the Most Reliable Engines Sources Samuel Flaten, Narrow Road Financial Planning. This article originally appeared on The 1 Thing You Can't Do With Your Required Minimum Distributions in Retirement
Yahoo
18-03-2025
- Business
- Yahoo
IDEX Biometrics ASA: Results of the exercise of Warrants A
Reference is made to the announcement by IDEX Biometrics ASA (the 'Company') on 12 December 2024 regarding the listing of Warrants A and Warrants B on Oslo Stock Exchange. Warrants A were exercisable between 28 February 2025 and 13 March 2025, and all Warrants A not exercised within such time lapsed without compensation to the holder. A total of 17,258 Warrants A were exercised, resulting in an aggregate subscription for 17,258 new shares (the 'New Shares') in the Company, each Warrant A having an exercise price of NOK 0.15. The Board of Directors of the Company has approved the allocation of New Shares to the exercising holders of Warrants A and has consequently resolved to increase the share capital of the Company. Payment for the allocated New Shares falls due one week after the Board's resolution. The New Shares will be issued upon registration of the share capital increase in the Norwegian Register of Business Enterprises. Following registration of the share capital increase in connection with the exercise of Warrants A, the Company's share capital will be NOK 124,739,134.80, divided into 831,594,232 shares each with a nominal value of NOK 0.15. For more information relating to the Warrants, please refer to the Prospectus approved and published by the Company on 13 November 2024. For further information contact: Marianne Bøe, Head of Investor Relations, Tel: +47 918 00186Kristian Flaten, CFO, Tel: +47 95092322E-mail: About IDEX Biometrics IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. For more information, visit ( About this notice This information is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act section in to access your portfolio
Yahoo
28-02-2025
- Business
- Yahoo
IDEX Biometrics ASA – Information about the first exercise period for warrants (Warrants A) issued in connection with the Private Placement and Subsequent Offering
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS STOCK EXCHANGE ANNOUNCEMENT. Oslo, Norway - 28 February 2025 – Reference is made to the stock exchange announcements from IDEX Biometrics ASA (the "Company") dated 17 September and 2 December 2024 regarding the commencement of the exercise period for Warrants A (ticker: IDEXJ), ISIN NO0013380048, issued in connection with the private placement in September 2024 and subsequent offering in December 2024. The exercise period for Warrants A will commence today, on 28 February 2025, and ends on 13 March 2025 at 16:30 CET. Each Warrant gives the holder a right to subscribe for one new share ('New Share') in the Company at a subscription price of NOK 0.15. All Warrants A not exercised within this period will lapse without compensation to the holder. Warrants B may only be exercised from 31 March 2025 to 11 April 2025. Arctic Securities AS is acting as manager in connection with the exercise of Warrants A (the "Manager"). Exercise procedure Warrants are exercised through the submission of a duly completed exercise form for the Warrants (the "Exercise Form") to the Manager at the address or email address set out in the Prospectus and the Exercise Form and payment of the aggregate subscription price for the New Shares. The Exercise Form can be found at the websites of the Company ( and Arctic Securities AS ( By completing and submitting an Exercise Form, the holder of the relevant Warrants irrevocably undertakes to acquire a number New Shares equal to the number of Warrants exercised at the relevant exercise price. For more information relating to the Warrants, please refer to the Prospectus approved and published by the Company on 13 November 2024. For further information contact: Marianne Bøe, Head of Investor Relations, +47 91800186Kristian Flaten, CFO, +47 95092322E-mail:ir@ For information about the Warrants please contact the Manager: Arctic Securities AS, tel.: + 47 21 01 30 40 About IDEX BiometricsIDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. The company's solutions provide convenience, security, peace of mind, and seamless user experiences worldwide. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, IDEX Biometrics' biometric solutions target card-based applications for payments and digital authentication. As an industry enabler, the company partners with leading card manufacturers and technology companies to bring its solutions to market. For more information, please visit – IMPORTANT INFORMATION – This announcement does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of the Company in the United States or any other jurisdiction. The securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities of the Company have not been, and will not be, registered under the U.S. Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to "qualified institutional buyers" as defined in Rule 144A under the U.S. Securities Act. No public offering of the securities will be made in the United States. This announcement has been prepared on the basis that any offer of securities in any Member State of the European Economic Area, other than Norway, which has implemented the Prospectus Regulation (EU) (2017/1129, as amended, the "Prospectus Regulation") (each, a "Relevant Member State") will be made pursuant to an exemption under the Prospectus Regulation, as implemented in that Relevant Member State, from the requirement to publish a prospectus for offers of securities. Accordingly any person making or intending to make any offer in that Relevant Member State of securities which are the subject of the offering contemplated in this announcement, may only do so in circumstances in which no obligation arises for the Company or any of the Managers to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 16 of the Prospectus Regulation, in each case, in relation to such offer. In the United Kingdom, this announcement is only addressed to and is only directed at Qualified Investors who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as "Relevant Persons"). This announcement are directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so. Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "intends", "may", "should", "will" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. This announcement is made by and, and is the responsibility of, the Company. The Manager is acting exclusively for the Company and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to its respective clients, or for advice in relation to the contents of this announcement or any of the matters referred to herein. Neither the Manager nor any of its affiliates makes any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein. This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Manager nor any of its affiliates accepts any liability arising from the use of this announcement. Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is an advertisement and is not a prospectus for the purposes of the Prospectus Regulation. Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the Prospectus dated 13 November 2024 and stock exchange announcements published in connection with the private placement, subsequent offering and the Warrants. Copies of the Prospectus is available from the Company's registered office and, subject to certain exceptions, on the websites of the Company ( Arctic Securities AS ( Each of the Company, the Manager and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any statement contained in this announcement whether as a result of new information, future developments or otherwise. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This information is published in accordance with the requirements of the Continuing Obligations. Attachment IDEX Biometrics ASA - Exercise form - Warrants ASign in to access your portfolio
Yahoo
27-02-2025
- Business
- Yahoo
IDEX Biometrics interim report for the fourth quarter and preliminary result for 2024
Oslo, Norway: IDEX Biometrics ASA's interim report for the fourth quarter and preliminary result 2024 is attached to this notice, including the fourth quarter 2024 presentation. The report and presentation are available on the IDEX Biometrics website: highlights Certification of IDEX PAY platform allowing manufacturers to certify and launch Biometric Payment Card programs with both Visa and Mastercard globally. Reaching scale manufacturing quality among key partners, enabling them and us to go beyond pilot volumes. IDEX Biometrics partner KONA I becomes first manufacturer certified by Mastercard for both PVC and metal biometric cards. Access: Received an order from DigAware to deliver a biometric sensor solution to enhance their smart badges. DigAware's new biometric ID badge incorporates RFID radios for emergency situations in environments such as schools, hospitals, and enterprises. Payments: First commercial launch in Japan together with Life Card, subsidiary to AIFUL Japan's third largest consumer finance company. Life Card's commercial roll-out is targeted for the first half of 2025. Streamlined global operations and progressed on cost efficiencies, aligning resources with key market priorities and further optimized our workforce. Completed rights issue in November, allowing retail investors to participate at the same terms as shareholders participating in the September capital results Q4 2024 No product revenues in the fourth quarter. Operating expenses excluding cost of products sold and bad debt provisions amounted to $2.4 million in the fourth quarter, below target at $2.5 million. An accrual for loss on receivables from Zwipe AS amounting to $0.6 million has been included in the fourth quarter of 2024. Net loss in the fourth quarter of 2024 was $2.1 million. The result includes net financial gain amounting to $2.4 million caused by value change of warrants and the derivative related to the convertible debt. Adjusted for these items, the result would have been a net loss of $4.6 million. A non-cash impairment of goodwill amounting to $968 thousand was recorded in the fourth quarter. Cash balance per 31 December 2024 at $2.0 million For further information contact: Marianne Bøe, Head of Investor Relations, +47 91800186Kristian Flaten, CFO + 47 95092322E-mail: ir@ About IDEX Biometrics IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. For more information, visit ( Trademark Statement IDEX, TrustedBio, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders. About this notice This notice was issued by Marianne Bøe, Head of Investor Relations, on 27 February 2025 at 08:00 CET on behalf of IDEX Biometrics ASA. The information shall be disclosed according to section 5‑6 of the Norwegian Securities Trading Act (STA) and published in accordance with section 5‑12 of the STA. Attachments IDEX BIOMETRICS Q4 2024 REPORT IDEX BIOMETRICS Q4 2024 PRESENTATION
Yahoo
18-02-2025
- Business
- Yahoo
IDEX Biometrics ASA - Update on Arbitration Award
Reference is made to the announcement by IDEX Biometrics ASA ("IDEX") on 28 January 2025 regarding the arbitration decision on 27 January 2025 on the dispute between IDEX and Zwipe AS ('Zwipe'), whereby the arbitrator held in favor of IDEX on all counts. The due date for payments by Zwipe was 14 days from the date of the arbitration decision. Following such due date, because of Zwipe's financial situation, as communicated by Zwipe on Euronext Oslo Børs, IDEX has engaged in discussions with Zwipe about a payment plan for the arbitration award. However, such discussions effectively ended when Zwipe on 17 February 2025 announced that it will file for bankruptcy with the Oslo District Court. While Zwipe has paid the arbitration costs, Zwipe has made no payment to IDEX in compliance with the arbitration award. This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5 -12 of the Norwegian Securities Trading Act. This stock exchange release was published by Marianne Bøe, Head of Investor Relations, on 18 February 2025 at 08:50 further information contact:Marianne Bøe, Head of Investor Relations, +47 91800186Kristian Flaten, CFO, +47 95092322E-mail:ir@ IDEX BiometricsIDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to more information, visit Trademark StatementIDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective in to access your portfolio
