- Format:Live Stream
- Education Type:BCU Webinars
- Line of Authority:N/A
- Language:N/A
- Credit Hours:N/A
In this Intermediate to Advanced session, we will delve into the more complicated aspects of IRAs including Rollovers vs. Transfers, Federal Withholding on IRAs, Penalty Exceptions on Distributions prior to age 59.5, Required Minimum Distributions rules and the latest Beneficiary Payout requirements.
No matter which session you choose to attend—whether it is Day 1, Day 2, or both—you will build a solid sense of confidence in understanding and handling IRA transactions. Each participant will receive an electronic copy of the comprehensive “IRA Training and Reference Manual,” also known as the “Red Book.” This manual will serve as a key resource and will be referenced regularly throughout the training sessions.
It is highly recommended that you have this manual available during the training so you can follow along and easily locate information as needed, both during and after the session. The manual is filled with cheat-sheets and quick reference charts to support your learning and to use as aids. The same “Red Book” will be utilized for both days of training, ensuring continuity and convenience.
What You'll Learn
- Gain clarity on the differences between Qualified Plan (QP) direct rollovers and IRA transfers, ensuring you can distinguish these transaction types accurately.
- Learn the specific rules that govern the process of rolling over a 529 plan into a Roth IRA.
- Understand when it is appropriate to use the term “rollover” in IRA-to-IRA transactions to ensure accurate communication and reporting.
- Explore the new exceptions to the 10% penalty on IRA distributions taken before age 59½, including how to properly report these exceptions.
- How to use the new IRS code for reporting Qualified Charitable Distributions (QCDs)
- Determine whether a beneficiary can elect optional distributions during the first nine years if the IRA owner passed away after 2019 and was subject to Required Minimum Distribution (RMD) rules.
- Identify nine critical warning signs or red flags that can arise during beneficiary payout processes.
- Review the options available for distributing IRA assets to a trust beneficiary, ensuring compliance and proper handling of these transactions.
