Surgent’s Required Minimum Distributions: Compliance and Planning
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.
Objective
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
Advanced Preparation
None
Required Knowledge
A basic understanding of retirement plan distributions and taxation of distributions
Who Should Attend
Any tax practitioner that desires to improve customer service related to required minimum distribution compliance and planning
Credit Types
- CPE – Taxes
- Enrolled Agent
Registration Fees
| Registration | Type | Price |
|---|---|---|
| WRS22126: Registration – Member | Mem | $165 |
| WRS22126: Registration – Non-Member | NM | $325 |
The North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.