There is no topic that produces more questions than death payments to IRA beneficiaries – whether it’s a spouse, individual nonspouse, revocable trust, irrevocable trust, entity or no beneficiary named. Then you have to throw in the factors of multiple beneficiaries, how old the owner is at death, who died before who, disclaimers…. It’s enough to make you crazy. In this two hour webinar, we will focus on the answers to these questions in a nice, detailed format with examples and handouts to help facilitate your beneficiary payouts when an IRA owner dies.
What You Will Learn
- What documents are we required to obtain when an IRA owner dies?
- Whose responsibility is it to notify the beneficiaries?
- What are the NINE biggest mistakes we make on beneficiary payouts – including reporting pitfalls?
- What payout options do beneficiaries have and what are the determining factors for each option?
- What forms do we use to set up Inherited IRAs and how should they be titled?
- Who do we pay out to when a trust or estate is named as beneficiary on an IRA?
- What happens when a beneficiary wants to move their IRA from one institution to another?
- How do we handle rollovers for beneficiaries of Qualified Employer Plans?
As you can see, because this is such a complicated topic, it is necessary to break all this down in its own webinar.
Who Should Attend?
This is a crucial webinar for anyone even remotely involved in IRAs including, frontline, back office, call center, investment department, and trust department personnel will benefit greatly from the thorough discussions of death payments. The content is at the intermediate to advanced level with a minimum of two years’ experience recommended. It is assumed that participants have a working knowledge of IRAs.
You are encouraged to have your IRA forms available such as the IRA Distribution form, Beneficiary Election of Payment Form and Inherited IRA Application to reference during the session.
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