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Required Minimum Distributions: Compilance and Planning - VIRTUAL

This course is co-sponsored by ICPAS & Nebraska Society of CPAs

Date(s):

06/25/2021

Registration Open:

8:15 AM - 8:30 AM

Time:

8:30 AM - 12:00 PM

Facility:

Online

Meeting Type:

Courses

CPE Credit:

4.00

Field(s) Of Study:

Taxes (4.00)

Level of Knowledge:

Intermediate

Price:

Member: $210.00
Nonmember: $295.00

Discounts available:

$25.00 Early Bird discount available until 06/04/2021

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.

Highlights

  • 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

Speaker(s)

Prerequisites

A basic understanding of retirement plan distributions and taxation of distributions