SECURE Act - What's New Now?

On top of the accelerated enactment of the SECURE Act effective January 1, 2020, there is new legislation being passed now with even more rules affecting IRAs. With all the challenges Americans are facing due to the Coronavirus, relief for those affected is on the horizon. The Senate bill – Coronavirus Aid, Relief and Economic Security Act (CARES) was passed unanimously by the Senate on Wednesday, March 25. The bill was then sent to the House - who may or may not make changes to it - and expected to pass on Friday, March 27. It will then be presented to the President who is expected to sign it over the weekend or soon after. Besides payments to individuals and increasing unemployment benefits, the bill also allows access to Qualified plans and IRAs without receive an IRS early distribution penalty. The bill is also expected to suspend RMDs from IRAs for the tax year 2020.

For the most up-to-date information on the SECURE Act and CARES Act, it is very important you attend this Webinar to understand the rules and reporting for all the changes due to the enactment of both of these new laws.

What You Will Learn

  • Beneficiary payout clarifications due to the SECURE Act
  • Who can skip their RMD in 2020 due to the CARES Act?
  • Who are considered “qualified individuals” to take penalty-free distributions from a retirement plan?
  • How much can be distributed and how is it reported?
  • Can the money be repaid and how are the taxes paid refunded?

Who Should Attend?

Anyone who is involved with opening, servicing and consulting on IRAs should attend. Trainers and Facilitators who need to update employees on all these changes and Financial and Estate Planners who advise and coordinate with clients should keep up with the latest information.