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Speaker, author, teacher, consultant: I teach/consult to financial, tax, and legal professionals about the tax laws that govern IRAs and employer plans
TITLE: Final RMD Regulations Meet the Proposed Regulations for SECURE Act 2: The Top 20 Most Impactful Revelations
Description
Complexity Level: Intermediate
Course Description
The IRS issued its highly anticipated final regulations for required minimum distributions on July 19, 2024. These regulations incorporate rules from SECURE Act and SECURE 2.0 Act.
With these final regulations, the IRS answers many burning questions, including whether designated beneficiaries must take RMDs on an annual basis and whether the 10-year rule is extended. It also explains why the IRS approved certain commentator requests and denied others.
The IRS also published proposed regulations for SECURE Act 2.0 on July 17. These regulations address other RMD-related topics, including the "Spousal Election Under Section 327 of the SECURE 2.0 Act", and “Distributions From Designated Roth Accounts”.
Key Topics
- How to accurately determine the class in which a beneficiary falls.
- The newly extended deadline for RMD for the year of death,
- The newly clarified and expanded RMD aggregation rules for multiple beneficiaries.
- Why different classes of beneficiaries could have different options under the same plan.
- When is an employee considered 'retired' from a plan adopted by multiple employers?
- Who is a 'child'?
- The status of the restriction that penalized older eligible designated beneficiaries.
- The hypothetical RMD rule prevents a 'bait-and-switch.'
- How to determine a successor beneficiary's 'hard stop' distribution date.
- The new trust rule makes it easier for beneficiaries of terminating trusts.
- When a designated beneficiary becomes an eligible designated beneficiary.
- The new RMD rules for Roth 401(k)s and other designated Roth accounts.
Learning Objectives
Upon completing this course, participants will be able to:
- Explain the restriction for certain spouse beneficiaries that switch from the 10-year rule to the life expectancy rule.
- Understand the new distinctions between the obligations of IRA custodians vs. Plan trustees, and it is now easier for IRA owners to meet compliance requirements.
- Determine how a spouse beneficiary may use a SECURE Act 2.0 provision to lower RMDs and potentially reduce taxes.
- Demonstrate application of the RMD rules for Roth beneficiaries
Feedback from attendees .
- Great webinar. Thank you!
- Thank you. I enjoyed your approach to the topic.
- Great presentation with good examples in support of material discussed. Excellent pace.
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This was such a good webinar Denise! You explain it so well. If you do case study webinars, I will definitely be on them. Your graphics and slides are beautiful too.
Excellent as always! - excellent as always, waiting for replay to dive in again
- Great information. Thank you.
- Excellent information as always
- Great Presentation!
- Well done, especially when answering all the questions at the end.
- Very Informative.
- Fantastic job. thank you.
- loved all the details. Need to listen to it again so I can digest more.
- great detail. more detail than I use on a daily basis. I am happy to have you as a resource if/when things get sticky
- very good review of new regs
- GREAT
- Great program, Denise is smart, expert, Thank you
- Terrific
- Very helpful - thank you!
- very informative.
- Denise is wonderful!
- Very Informative.
- Good session
- As always, Denise's slides and presentation were outstanding!
- The slides were useful. Denise obviously knows her stuff.