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Friday, November 22, 2024 Live Webcast

Required Minimum Distributions: Compliance and Planning (E2411212)

9:00 AM - 12:30 PM EST

Registration: 8:30 AM EST

webcast

Vendor Platform

4 CPE Credits in TX

OVERVIEW

Required minimum distributions (RMDs) from employer retirement plans and IRAs must be made or steep penalties will be incurred. Planning opportunities exist in certain situations to minimize distributions. Also, special rules exist for inherited retirement funds. Your clients depend on you to help them navigate the rules regarding required minimum distributions and the taxation of distributions. This course addresses compliance issues and planning opportunities regarding required minimum distributions.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

Any tax practitioner that desires to improve customer service related to required minimum distribution compliance and planning

BENEFITS

  • Understand the calculation of required minimum distributions
  • Understand when required minimum distributions are required
  • Understand how to treat inherited retirement accounts and how to utilize stretch IRAs
  • Understand the importance of designated beneficiaries of retirement accounts
  • Discuss the process of requesting the abatement of penalties for failure to make required minimum distributions and how to correct a failure to make a required distribution
  • Understand how to handle an incorrect Form 1099-R
  • Discuss how distributions are taxed when the retirement account has basis that can be returned free of tax
  • Understand the changes to RMD, penalty, and rollover rules under SECURE Act 2.0

HIGHLIGHTS

  • Minimum distribution requirement changes by the SECURE Act 2.0
  • Latest guidance issued by the IRS related to required minimum distributions
  • The calculation of required minimum distributions using the Uniform Life Table
  • Required minimum distributions from multiple accounts
  • New §401(k) rules of SECURE Act 2.0
  • Inherited employer retirement accounts and IRAs: Changes to spousal and non-spousal beneficiary distribution options and stretch IRAs under the SECURE Act
  • Required minimum distributions in the year of death
  • Roth conversions for estate planning and avoiding required minimum distributions
  • Timing of distributions for maximum tax-free compounding
  • Section 529 rollovers to Roth accounts under SECURE Act 2.0
  • Qualified charitable distributions from IRAs and the relationship between deductible IRAs and QCDs under the new anti-abuse rules. Includes SECURE Act 2.0 rollovers to CRUTs and CRATs
  • Taxation of distributions
  • Penalties for missed required minimum distributions and reasonable cause for abatement of penalties. Includes SECURE Act 2.0 changes

COURSE LEVEL

Intermediate

PREREQUISITES

A basic understanding of retirement plan distributions and taxation of distributions

ADVANCE PREPARATION

None

INSTRUCTOR

John Kilroy

John Kilroy, CPA, CFP

John Kilroy is a managing member of iValue Financial Planning LLC, located in the Philadelphia, Pennsylvania area. John engages clients in financial and tax planning, as well as preparing tax returns for individuals, corporations, partnerships, estates, and trusts. John is a CPA and a CFP® practitioner. He is a 1979 graduate of Villanova University with a BS in Accounting. John is a member of the Pennsylvania Institute of Certified Public Accountants and the Financial Planning Association (FPA). Within the FPA, John has served as a board member of the Philadelphia Tri-State chapter and on its education and finance committees. John is an adjunct faculty member for the Temple University Certificate of Financial Planning Program. He is a frequent speaker and facilitator on tax and financial planning topics. John has been quoted in the Wall Street Journal, MarketWatch.com, and USATODAY.com. He has written for the Journal of Financial Planning, and is a contributor to Retirement Weekly. John has also discussed financial and tax planning issues on various radio outlets.

PRICING

$199.00 - Member

$274.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

COURSE DEVELOPER

Surgent