Objective
- Understand the new distribution options for beneficiaries, as clarified by the proposed RMD regulations for SECURE Act 1.0
- Communicate to clients new opportunities for participants and beneficiaries to avoid excise tax and costly penalties
- Talk to clients about implementing unique tax-saving opportunities for spouses and other eligible designated beneficiaries
- Be well versed in other recent developments that affect IRAs and employer plans
Highlights
- SECURE Acts and the 10-year rule
- Roth IRA beneficiary options
- Where the stretch IRA really ends
- The new limitations for spouse IRA beneficiaries
- The new spouse options for spouse beneficiaries
- New RMD rules for Roth 401(k)s
- Overriding the 10-year rule for an eligible designated beneficiary
- How the age of death affects beneficiary options
- The new early distribution penalty exceptions
- Rollovers vs. transfers for spouse beneficiaries
- Qualified charitable distributions (QCDs) for owners and beneficiaries
- The “at least as rapidly” (ALAR) rule
- New reduced rate for excess accumulation penalty on RMD failures
- How to avoid unlimited accrual of the 6% excise tax
- How to avoid unlimited accrual of the 25% excise tax
- Clarifying the definition of disability for an exception to the 10% additional tax
- 529 to Roth: who, what, when, and how
- The new starting ages for RMDs
- Designated vs. eligible designated beneficiaries and their options
- Catch-up contributions for ages 50 and over
- Catch-up contributions for ages 60 to 63
- When the 60-day deadline is missed
- When the one-per-year rollover limit is about to be broken
- Retaining qualifications for exceptions to the 10% additional tax
Designed For
All practitioners advising clients on these complex issuesPrerequisite
NoneAdvanced Preparation
None