The SECURE Act and the SECURE Act 2.0 provisions are often confused with some of the proposed regulations and notices released by the IRS. Much of this is left to the interpretation of the person who reads the information. That is why you see so many conflicting views on the new rules and regulations.
The largest area of confusion stems from the beneficiary payout options. The IRS has gone back and forth on this at least three times in the last year and a half. No wonder we feel so insecure when the customer asks us a question! Join us as we dive into the nuances of these rules and regulations.
What You’ll Learn
- When the RMD age changes and who it affects
- The three new classes of beneficiaries that determine payout options
- When a beneficiary was in a single life payout before 2020 when the SECURE Act passed
- When an Inherited IRA has to be closed in a 10-year period
- Determinations for payout purposes must be made when a trust is named as beneficiary
- The new premature distribution penalty exceptions beginning in 2024
- All other legislative updates that are enacted prior to this IRA Webinar will be discussed
Who Should Attend
Anyone in a customer-facing or call center role would benefit from the review of recent IRA changes. The Operations Department, the IRA Department and Branch Managers would also gain valuable perspective in this annual review.