Objective
- Define an RMD so that clients know the minimum amounts to distribute
- Calculate RMDs and make adjustments when IRA custodians fail to
- Identify the individuals and accounts that are subject to the RMD rules
- Identify the RMD mistakes that can occur, how to avoid such mistakes, and how to correct them where possible
- How to get automatic waivers for the 50% excess accumulation penalty
Highlights
- Coverage of applicable provisions of SECURE Act 2.0
- What is a required minimum distribution for an account owner?
- What is a required minimum distribution for a beneficiary IRA?
- Key explanations of RMD regulations
- The types of accounts that are subject to the required minimum distribution rules
- The parties that are subject to the required minimum distribution rules
- Exceptions and special considerations for required minimum distributions
- Rollover and transfer rules in an RMD year
- The various responsibilities for interested parties
- Qualified charitable distributions and how they are coordinated with RMDs and IRA contributions
- How the 10-year rule works for certain beneficiaries
Designed For
All practitioners advising clients on these complex issuesPrerequisite
NoneAdvanced Preparation
None