Event Description

Years of growth in a retirement account can be wiped out by one mistake. As such, retirement account owners and their advisors should take care to ensure that IRAs are operated in compliance with the governing regulations. This includes ensuring that distributions are handled properly, and that movement of retirement assets does not violate the limitations that apply.

Designed For

All practitioners advising clients on these complex issues

Objectives

Advisors who attend this session will learn how to: Identify penalties that can apply to distributions, and how they can be avoided Identify portability mistakes that can result in unintended tax consequences Move inherited retirement assets in a manner that preserves tax deferred status Avoid the penalty that can apply to ineligible contributions Explain the operational and compliance requirements for Roth IRA conversions 

Major Subjects

The 10% penalty  Net unrealized appreciation  Roth IRA conversions and withholding Rollovers and the limitations Direct rollovers, indirect rollovers, and tax withholding   Beneficiary portability rules  Taxes and the ordering rules for Roth IRAs  Excess contributions and the 6% excise tax 

Prerequisites

None

Instructions

None