Retirement accounts are a critical asset. Go beyond calculations. Learn to provide retirement planning input. Beneficiary rules have changed. Improper choices and faulty distribution calculations can result in penalties or unnecessary taxes. Retirement benefits will be paid out much earlier than was required for pre-2020 deaths. Recent relief for those in disaster areas or affected by the pandemic shows that the law is dynamic and plans may require an update. Course materials contain regulations governing plan distributions and copies of all appropriate IRS forms and rulings, updated with the latest cases, rulings, regulations and legislation.
Learning Objectives
- Recognize key income and penalty tax issues in connection with retirement distributions.
- Determine how the death of an owner or beneficiary affects distribution calculations.
- Identify the pros and cons of various beneficiary choices to assist your client in selecting the best options.
Major Topics
- Roth IRA: The right choice?
- Income tax treatment of distributions from qualified plans of all types.
- Relief for late rollovers and disaster victims.
- Strategies for distributions before age 59.5.
- Laws, regulations and IRS rulings concerning plan distributions.
- Avoiding the 50 percent penalty on deficient distributions.
- Integration of estate planning with distribution decisions.
- Beneficiary choices - eligible?
- Self-directed IRA investment problems.
