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Required Minimum Distribution: New IRA Estate Planning Issues That Are Urgent

REQUIRED MINIMUM DISTRIBUTION: NEW IRA ESTATE PLANNING ISSUES THAT ARE URGENT

Cost Free
Presentation Length 1.0 hour

Recorded DateJune 17, 2022
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

The SECURE Act has eliminated the stretch IRA for many beneficiaries, and your clients will need solutions. Every IRA and company plan is being affected. The new post-death payout rules could have a significant negative tax impact on the plans your clients have made for their retirement savings. And now… IRS has issued new RMD rules that change the way payouts to beneficiaries will work. Some of these new RMD rules are even more confusing than ever before—but YOU have to know them to help your clients make sure they are withdrawing the correct RMD amount. There is a 50% penalty for missed RMDs, even though most people and advisors are not up to speed on these latest rules released by the IRS in February 2022 that are in effect now!

Beneficiaries inheriting IRAs are just starting to experience the implications of the end of the stretch IRA, but they likely have no clue about their RMD obligations under the new IRS RMD rules. This is where the rubber meets the road, and costly and irrevocable mistakes will be common!

This program will go in depth on all the payout options for beneficiaries after the SECURE Act and will cover the 2022 IRS RMD regulations. Beneficiaries who inherited before 2020 whose RMDs will be based on the old (pre-SECURE Act) distribution rules are also impacted by the new RMD rules. Advisors will now have to know two sets of RMD rules for three types of beneficiaries, plus they will have to know how the new 2022 IRS RMD rules will impact them.

Learning Objectives:


  • Give examples of how the SECURE Act’s and IRS’s new RMD rules will apply to every type of retirement account beneficiary

  • Determine how to explain the issues and the solutions to clients so that they will act and create better plans with you for their families

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Ed Slott, CPA

Ed Slott and Company
Founder and CEO
ed@irahelp.com
(800) 663-1340

Edstottco

Ed Slott is a nationally recognized IRA distribution expert, professional speaker, television personality, best-selling author, and president of Ed Slott and Company, LLC. He is known for his unparalleled ability to turn advanced tax strategies into understandable, actionable, and entertaining advice. He has been named “The Best Source for IRA Advice” by The Wall Street Journal, and USA Today wrote, “It would be tough to find anyone who knows more about IRAs than CPA Slott.”

Mr. Slott regularly presents on IRA and estate planning strategies at both consumer events and conferences for financial advisors, insurance professionals, CPAs, and attorneys. His client list has included leading financial membership organizations, such as FPA, NAPFA, Estate Planning Councils, and AICPA, as well as corporate financial firms Fidelity Investments, Nationwide Financial, New York Life, Jackson National, Transamerica, Met Life, Northwestern Mutual, Genworth Financial, LPL Financial, Advisors Excel and others coast-to-coast.

As president and founder of Ed Slott and Company, LLC, the nation’s leading source of accurate, timely IRA expertise and analysis to financial advisors, institutions, consumers, and media, he provides:

1. Advanced training to financial professionals to become knowledgeable recognized leaders in the retirement marketplace; and

2. Answers to retirement savers’ most essential questions, continually providing practical, easy-to-understand information on IRA, retirement, tax, and financial planning topics.

Mr. Slott is an accomplished author of many financial and retirement-focused books, including most recently Ed Slott’s Retirement Decisions Guide: 2020 Edition (IRAHelp, 2020) and Fund Your Future: A Tax-Smart Savings Plan in Your 20s and 30s (IRAHelp, 2020). He also hosts the popular website irahelp.com as a resource for financial professionals and consumers, where tens of thousands of readers follow the Slott Report blog.

As a thought leader in the retirement industry, Slott is often quoted in The New York Times, The Wall Street Journal, Forbes, USA Today, Kiplinger, Investor’s Business Daily, and numerous additional national magazines and financial publications. He provides a monthly Q&A column to AARP and is a contributing columnist and media resource to Financial Planning, Financial Advisor, and InvestmentNews magazines.

He has appeared on many national television and radio programs, including NBC, ABC, CBS, CNBC, CNN, FOX, FOXBusiness, NPR, and Bloomberg. Mr. Slott has raised more than $65 million for public television and is one of the top 5 pledge drivers of all time with his educational specials, including his most recent, “Retire Safe & Secure! with Ed Slott” (2020).

Mr. Slott is a past Chairman of the New York State Society of CPAs Estate Planning Committee and editor of the IRA planning section of the CPA Journal. He was named a 2020 InvestmentNews Innovator for his significant contribution to helping advisors improve client outcomes and tackle industry challenges. He is the recipient of the prestigious “Excellence in Estate Planning” and “Outstanding Service” awards presented by The Foundation for Accounting Education. He is a former board member of The Estate Planning Council of New York City and an Accredited Estate Planner (AEP) distinguished.
Ultimately, through all of these efforts combined, Mr. Slott has taught millions of Americans (and their financial professionals) how to get the most out of their retirement savings.

 “The Best Source of IRA Advice”
— The Wall Street Journal

About Our Presenter

Edstottco

America’s IRA Experts

Education is the only avenue to avoid the roadblocks set up by "Uncle Sam" — a man with deep pockets just waiting to collect more taxes and penalties associated with unreliable, inadequate planning.

Ed Slott and Company is the nation's leading source of accurate, timely IRA expertise and analysis to financial advisors, institution, consumers and media across the country. We neither sell nor endorse any particular financial product. We are an educational company working to:

  1. Train financial professionals on an individual and corporate level to become knowledgeable recognized leaders in the retirement marketplace; and
  2. Answer retirement savers’ most important questions and continually provide practical, applicable and easy-to-understand information on IRA, retirement, tax and financial planning topics