• Program Name: Appleby’s Guide to Avoiding the Top 10 Mistakes That Can Wipe out Retirement Savings

Overview

Years of growth in a retirement account can be wiped out by one mistake. As such, retirement account owners and their advisors should take care to ensure that IRAs are operated in compliance with the governing regulations. This includes ensuring that distributions are handled properly, and that movement of retirement assets do not violate the limitations that apply.

Highlights
 
The 10% penalty

• ·         Net Unrealized Appreciation
• ·         Roth IRA Conversions and Withholding
• ·         Rollovers and the limitations
• ·         Direct Rollovers, Indirect Rollovers and Tax Withholding 
• ·         Beneficiary portability rules
• ·         Taxes and the ordering rules for Roth IRAs
• ·         Excess contributions and the 6% excise tax

Learning Objectives

Advisors who attend this session will learn how to:

• Identify penalties that can apply to distributions, and how they can be avoided.
• Identify portability mistakes that can result in unintended tax consequences.
• Move inherited retirement assets in a manner that preserves preserve tax deferred status.
• Avoid the penalty that can apply to ineligible contributions.
• Explain the operational and compliance requirements for Roth IRA conversions

• Program Name: Appleby’s Top 20 Effective Strategies for Avoiding RMD Mistakes and Penalties: SECURE Act Updated   

Overview

Required minimum distribution (RMD) must begin for the year in which the account owner reaches age 72, unless an exception applies. Failure to comply with the RMD rules will result in the account owner owing the IRS a 50% excess accumulation penalty on any RMD shortfall. RMDs must also be taken from inherited accounts, and the process for determining RMDs for these accounts are more complex than those that apply to RMDs for non-inherited accounts. Interested parties must understand the compliance requirements that apply to RMDs, to be able to assist in ensuring that penalties are avoided.

Highlights

• What is a required minimum distribution for an account owner?
• What is a required minimum distribution for a beneficiary IRA?
• The types of accounts that are subject to the required minimum distribution rules
• The parties that are subject to the required minimum distribution rules
• Exceptions and special considerations for required minimum distributions
• Rollover and transfer rules in an RMD year
• The various responsibilities for interested parties
• Qualified charitable distributions and how they are coordinated with RMDS and IRA contributions

Learning objectives

Advisors who attended this session will learn how to:

• Define an RMD so that clients know the minimum amounts to distribute
• Calculate RMDs and make adjustments when IRA custodians fail to
• Identify the individuals and accounts that are subject to the RMD rules
• Identify the RMD mistakes that can occur, how to avoid such mistakes, and how to correct them where possible