Description

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.

Instructor: Denise Appleby, MJ, APA, CISP, CRPS, CRC

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

Excess contributions and the 6% excise tax