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The IRS has increased the required beginning age for IRA owners to begin distributions twice in the last 3 years. Every time this happens, it creates a huge dilemma and opens the door for various interpretations of the new rules - many of which are incorrect. We will address by birth year who is eligible to postpone distributions to the increased ages. Also, what happens if an IRA owner who turned 72 this year mistakenly took an RMD when they were not required to?
And then there are the beneficiaries...The three categories of beneficiaries identified in the SECURE Act of 2020 have different payout options at the death of the owner. The problem is that the IRS has changed their minds 3 times since this act was signed into law and then postponed the implementation of the proposed regulations twice. This also leads to a treasure chest of bad information and interpretation to the general public.
Who Should Attend
Anyone who is remotely involved with IRAs and answering client's questions on the old and new IRA distribution rules - especially to beneficiaries. Customer service reps, financial and estate planners, IRA operations department, tellers, call centers and frontline personnel would all benefit from this informative Webinar.