Retirement accounts may be the largest financial asset your client has. Learn to provide retirement planning input more than mere calculations. Beneficiary rules have changed. Improper choices and faulty distribution calculations can result in penalties or unnecessary taxes. Retirement benefits will be paid to beneficiaries much earlier than was required for pre-2020 deaths. Plans may require an update based on recent legislative changes and IRS interpretations. Course materials contain regulations governing plan distributions and copies of 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 retirement plans of all types
• Laws, regulations and IRS rulings concerning plan distributions
• Avoiding penalty on distributions that happen too early or too late
• Beneficiary choices - eligible or not?
• Self-directed IRA investment problems
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