IRA Update - Catching Up with the Secure Act Changes

IRA Update – Detailing the IRA Changes as part of the Secure Act signed into law on December 20, 2019.

After a year of dragging their feet, the Senate finally agreed to the Secure Act bill that was passed by the House several months ago. It was included in the 2020 Appropriations Act signed into law right before Christmas.

During this critical IRA Update Webinar, we will detail the slightly good and very not-so-good changes that will apply to IRAs effective January 1, 2020 – including faster payouts for IRA nonspouse beneficiaries, changes in RMD age and ability to contribute to Traditional IRAs after age 70.5.

What You Will Learn

  • What are the major effects of the Secure Act of 2020?
  • What is the beginning age for IRA Required Minimum Distributions?
  • What is the major impact of the loss of the “stretch” IRA payout for nonspouse beneficiaries?
  • Will we have to send out amendments to our IRA accountholders?
  • Clarifying reporting of Qualified Charitable Distributions to the IRS and why they will become more prevalent over the next couple of years.
  • What are the mandatory notices and reporting to be distributed to IRA accountholders in January 2019?
  • What are the mandatory notices and reporting that must go to the IRA accountholder in January 2020.

Who Should Attend?

This update is a vital necessity for anyone in the position of answering IRA questions as a representative of the financial institution - including the customer service reps, operations personnel, investment advisors, trust officers and the bank call center employees.

"Patrice is an awesome speaker and is very knowledgeable." - Karen W, Commercial Bank - St. Louis, MO