Webinar: Surgent's Introduction to Required Minimum Distributions
WS2171 | Course | Basic | Scheduled
Description
Required minimum distributions (RMDs) must be taken from certain tax-deferred retirement accounts, starting when the account owner reaches their applicable age.
The RMD rules are complex and must be simplified to help ensure clients understand them. Accounting and finance professionals must understand the basics of RMDs for IRAs and employer plan accounts so as to help IRA owners, plan participants, and beneficiaries meet their RMD obligations and avoid penalties that apply to RMDs not taken by their applicable deadline. Accounting and finance professionals should also be able to demonstrate tax-efficient solutions for RMDs.
This course will walk accounting and finance professionals through the fundamental concepts and rules that apply to RMDs, demonstrate how to calculate RMDs, and explain how to correct RMD errors. It can be taken by anyone, including those without any experience working with RMDs.
The course will include cases to promote understanding of the rules.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 2.00 | Taxes |
Designed For
Accounting and finance professionals who want to understand RMD concepts and how RMDs work
Prerequisites
None
Highlights
- How SECURE Act 1.0 and SECURE Act 2.0 changed the RMD rules
- What is an RMD?
- Who is subject to RMDs?
- The types of accounts subject to RMDs
- How to calculate an RMD
- How to determine if a distribution can be an RMD
- How to determine which life expectancy table must be used when calculating an RMD
- The rollover and transfer rules during an RMD year
- IRS penalties for non-compliance with RMD regulations
- Applying RMD strategies to different plan types
- When RMDs can and cannot be aggregated
- How to correct an RMD shortfall
- How to get a waiver of the excise tax on an RMD failure
- The tax implication of an RMD
- How to donate an RMD tax-free
- How to determine the RMD rules that apply to a beneficiary
Objectives
- Understand what Required Minimum Distributions (RMDs) are, why they exist, and the accounts to which they apply
- Recognize the important deadlines for starting and taking RMDs, including the consequences of missing an RMD deadline and how to avoid penalties
- Calculate RMDs using IRS tables, account balances, and other impacting data
- Recognize common scenarios where RMDs apply for IRA owners, employer plan participants, and beneficiaries.
Preparation
None
Notes
This webinar is provided by Surgent. After registering for the course, you will receive an email from Surgent with instructions for logging in to the webinar and obtaining your eMaterials.
You may confirm that your computer meets the minimum requirements by visiting: https://www.surgentcpe.com/webinartest/.
Prices
- Member (Early Bird)
- $99.00
- Non-Member (Early Bird)
- $99.00
- Member
- $99.00
- Non-Member
- $99.00