IRAs and the CARES Act - 2.0

In order to deal with the rising Covid-19 pandemic, in March 2020 the CARES Act (Coronavirus Aid, Relief and Economic Security Act) was signed into law to help IRA owners and beneficiaries deal with the drop in the value of their IRA investments. With the continued market uncertainty, suggestions, and complaints received by the IRS, the evolution of the CARES Act is changing weekly.

In order to get the latest updates and clarifications on all these time-sensitive changes, attending this clear, concise webinar will take away the confusion surrounding everything that is being published by different "experts" who may not have all the facts.

What You Will Learn

  • Are distributions required from IRAs in 2020?
  • If the RMD is skipped this year, do owners and beneficiaries have to take out an additional amount next year?
  • Who can roll his/her 2020 RMD back into an IRA this year and what is the deadline?
  • Can a nonspouse beneficiary roll their RMD back into an IRA?
  • Can an IRA owner or beneficiary rollover the total distribution taken in 2020 if it was more than the RMD amount?
  • What are the rollover rules if monthly distributions were taken?
  • Which distributions are limited to the 60 day and once-per-12-month rules?
  • What is the deadline for IRA contribution reporting to the IRS and the customer?

Who Should Attend?

Anyone even remotely involved in answering IRA questions should attend this important Webinar update including CSRs, Call Centers, Branch Managers, Trust and Investment Officers and IT personnel.