Retirement accounts such as 401(k)s and IRAs have become popular vehicles for retirement savings and building wealth. It is inevitable that you or your client will inherit one. Unlike most other inherited assets, retirement accounts have tax consequences. This presentation will help you understand the tax consequences and identify what you need to know about the deceased account owner, the beneficiary, and the type of plan/account to properly determine when distributions must occur. You will also learn how to properly calculate the required minimum distributions and what happens if you miss a required distribution and how to correct.
- How to Determine Required Distributions From
- Distributions to Eligible Designate Beneficiaries
- Distributions to Ineligible Beneficiaries
- Inheriting Plan Assets Other Than Traditional
Investments and Accounts
- Impact of Missing Required Distribution
- Discuss how the age of the deceased impacts the timing
of distributions and the ‘at least as rapidly rule.
- Explain how to calculate the required minimum
distributions, including which IRS tables to use and
where to find them.
- Identify if the beneficiary is an eligible designated
beneficiary or an ineligible designated beneficiary.
- describe how the timing of Roth account distribution
may be different from traditional accounts.
Tax Consequences and Complexities of Inheriting a Retirement Account
December 14, 2022
1:00PM EST - 2:05PM EST
Click Here to Register
BST clients receive a special discount! Discount code: A1001072
Priority code: 15999