What You'll Learn
It's estimated that the millions of clients have inherited distributions each year will be impacted by the IRS's proposed new rules (in February) for inherited IRAs that were most recently changed in the 2019 Secure Act, which introduced a new 10-year payout rule for inherited…
It's estimated that the millions of clients have inherited distributions each year will be impacted by the IRS's proposed new rules (in February) for inherited IRAs that were most recently changed in the 2019 Secure Act, which introduced a new 10-year payout rule for inherited accounts. The previous rule said those who inherited an IRA, Roth IRA or 401(k) could spread out withdrawals over their lifetime. Many interpreted the new 10-year rule to mean that these heirs could wait until the 10th year before taking any payouts. But then, in February, the IRS issued new guidance that would require heirs to take annual withdrawals in cases where the original owner died on or after his required beginning date for taking distributions.
Join CPA Larry Pon to learn how distribution rules work for inherited IRAs (both traditional Roth), for both eligible and non-eligible beneficiaries. Larry will use several client examples to clarify who is subject to the 10-year rule and regular stretch distributions, how the rules apply if a client inherits IRAs from multiple parties with different required beginning dates, how the rules affect children, disabled beneficiaries and trusts.
*CE/CPE Eligible: 1 CE credits are available to subscribers with these designations: CFP, CLU, ChFC and RICP. CPA subscribers will earn 1 CPE credits.
Field of Study: Specialized Knowledge
Prerequisites: There are no prerequisites for this session.
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based
NASBA Approved
Financial Experts Network (Sponsor Id#: 145173) 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.