Courses

Objective

• Understand the calculation of required minimum distributions
• Understand when required minimum distributions are required
• Understand how to treat inherited retirement accounts and how to utilize stretch IRAs
• Understand the importance of designated beneficiaries of retirement accounts
• Discuss the process of requesting the abatement of penalties for failure to make required minimum distributions and how to correct a failure to make a required distribution
• Understand how to handle an incorrect Form 1099-R
• Discuss how distributions are taxed when the retirement account has basis that can be returned free of tax
• Understand the changes to RMD, penalty, and rollover rules under SECURE Act 2.0

Highlights

• Minimum distribution requirement changes by the SECURE Act 2.0
• Latest guidance issued by the IRS related to required minimum distributions
• The calculation of required minimum distributions using the Uniform Life Table
• Required minimum distributions from multiple accounts
• New §401(k) rules of SECURE Act 2.0
• Inherited employer retirement accounts and IRAs: Changes to spousal and non-spousal beneficiary distribution options and stretch IRAs under the SECURE Act
• Required minimum distributions in the year of death
• Roth conversions for estate planning and avoiding required minimum distributions
• Timing of distributions for maximum tax-free compounding
• Section 529 rollovers to Roth accounts under SECURE Act 2.0
• Qualified charitable distributions from IRAs and the relationship between deductible IRAs and QCDs under the new anti-abuse rules. Includes SECURE Act 2.0 rollovers to CRUTs and CRATs
• Taxation of distributions
• Penalties for missed required minimum distributions and reasonable cause for abatement of penalties. Includes SECURE Act 2.0 changes

Designed For

Prerequisite

Advanced Preparation