Transactions for IRAs and employer plan accounts are usually year-driven. As a result, certain transactions must be completed by the end of a year for them to be counted for that year. In some cases, these transactions are mandatory and failing to complete them by the end of the year will result in IRS assessed penalties, or missed opportunities for implementing tax-efficient strategies. Advisors must know which transactions are required to be completed by year end and the steps that must be taken to help ensure that the transactions are completed timely and accurately.
Join retirement expert Denise Appleby to learn how you can help clients make key tax-efficient year-end planning moves for their retirement accounts for 2023 and 2024. Major topics Denise will cover include: The recently published IRA and plan limits for 2024; Required minimum distributions for 2023; Key Roth conversion rules for 2023; When a backdoor Roth conversion counts for 2023; Substantially equally periodic payments and Tax implications for cross-year rollovers.
Advisors who attend this webinar should be able to:
- Identify which account owners and beneficiaries are subject to RMDs for 2023.
- Illustrate how an eligible designated beneficiary can stretch distributions over their life expectancy when a plan limits them to the 10-year rule.
- Explain whether a Roth conversion applies to 2023 or 2024.
- Demonstrate how clients can ensure that qualified charitable distributions (QCDs) meet compliance requirements.
*CE/CPE Eligible: 1 CE credit is available to subscribers with these designations: CFP, CLU, ChFC and RICP. CPA subscribers will earn 1 CPE credit.
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.