Retirement Distributions: Case Studies (Currently Unavailable)

Author: Steven G. Siegel

Learn to spot the potential pitfalls and provide solid advice to unwary clients needing retirement plan distribution help
Clients may expend substantial effort and sacrifice to maximize their retirement plan contributions, and typically feel that they can deal with their plan balances at will. That is not the case. Distributions from retirement plans are subject to a series of complex requirements and decisions as well as income and estate tax obligations that can lead to substantial tax liabilities and penalties if not carefully addressed. Timing of plan withdrawals and distributions, careful identification of beneficiaries, and following rules that favor form over substance are all important to understand. There is legislation in Congress likely to pass this year that will change some of these rules dramatically.

This on-demand CPE program will address a number of real-world client situations and problems, and suggest what recommendations the clients’ advisors can address to solve them.

Publication Date: October 2019

Topics Covered

• Retirement Plan Distribution Issues that Arise in Every Case
• Specific Retirement Plan Distribution Case Studies, Including:
  • The Client Needs Money from the Plan NOW
  • Required Minimum Distributions
  • Distributions to the Spouse
  • Inherited IRAs
  • Trusts as Plan Beneficiaries
  • The Estate as the Beneficiary
  • Naming a Charity as a Beneficiary
• Address Miscellaneous Important Issues

Learning Objectives

• Recognize the key tax and non-tax issues involved in retirement plan distributions
• Identify potential planning options for common client situations
• Identify planning opportunities for clients to help them achieve their objectives and comply with legal requirements
• Recognize who meets the specific exception to avoid additional tax
• Identify when a taxpayer may receive minimum distributions in various scenarios
• Describe the 11 acceptable reasons for a late rollover under the Revenue Procedure lists
• Recognize which method for transferring to an "inherited IRA" by any nonspouse beneficiary can be accomplished successfully
• Describe what must be for a trust to be named as plan beneficiary
• Identify what is recognized exception to the 10% additional excise tax (penalty)
• Recognize which items qualify as hardships
• Describe when a taxpayer must receive the minimum distribution from an IRA account
• Identify when a Roth IRA conversion should be considered, in regards to IRC Section 199A

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None