Years of growth in a retirement account can be wiped out by one mistake. As such, retirement account owners and their advisors should take care to ensure that IRAs are operated in compliance with the governing regulations. This includes ensuring that distributions are handled properly, and that movement of retirement assets, including between IRAs and employer plans, does not violate the limitations that apply.
Target Audience
All practitioners advising clients on these complex issues
Course Objectives
Identify penalties that can apply to distributions, and how they can be avoided
Help clients avoid the portability mistakes that can result in unintended tax consequences
Move inherited retirement assets in a manner that preserves tax deferred status
Help clients avoid ineligible contributions
Explain the operational and compliance requirements for Roth IRA conversions
Subjects
Coverage of applicable rules from SECURE Act 2.0
The 10% penalty
Net unrealized appreciation of employer securities
Roth IRA conversions
Rollovers and the limitations
Direct rollovers vs indirect rollovers, and tax withholding
Beneficiary portability rules
When a Roth IRA distribution is qualified to be tax-free
