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(RMD4) Surgent's Required Minimum Distributions: Compliance and Planning (RMD4)
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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 distrib

8/11/2020
When: 08/11/2020
7:00 AM
Where: Webcast
SURGENT
RMD4-2020-01-WEBNR-224-01
United States
Presenter: Michael Frost, CPA


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Acronym: RMD4

CPE:  4

Vendor: Surgent

Category:  Taxes (Technical) (4)

Level: Intermediate

Yellow Book? No

Registration Fees:

Members* $139

Non-Members $159

*The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801-466-8022, Monday through Friday, 8am to 4pm.

 

Course Description: 

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.

Objectives:

 

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 1099R

Discuss how distributions are taxed when the retirement account has basis that can be returned free of tax 

 

Major Topics:

 

Minimum distribution requirement changes by the Secure Act of 2019

Latest guidance issued by the IRS, whether by way of regulations or administrative announcements related to required minimum distributions

The calculation of required minimum distributions using the Uniform Life Table

Required minimum distributions from multiple accounts

Form 1099R and codes

Inherited employer retirement accounts and IRAs: Spousal and non-spousal beneficiary distribution options

Limitations on stretch IRAs imposed by the Secure Act of 2019

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

Qualified charitable distributions from IRAs

Taxation of distributions

Penalties for missed required minimum distributions and reasonable cause for abatement of penalties

 

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

 

Prerequisite:  A basic understanding of retirement plan distributions and taxation of distributions

 

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