IRAs Part 3 - Distributions, Beneficiary Payout Options

IRAs Part 3 - Distributions, Beneficiary Payout Options and Reporting

Friday, October 15, 2021
11:00 am – 1:00 pm Eastern

The beginning of 2020 began with the implementation of some of the most major changes to IRA Distributions and Beneficiaries and we have had in almost 20 years. There were a couple of changes that were beneficial to IRA owners, but the beneficiaries took a big hit with the changes by accelerating the beneficiary payout options resulting in possible higher taxes paid. There are still many questions regarding these payout options and we are also waiting for some guidance from the IRS on the more complicated areas of death payouts to trusts.

Topics Covered:

  • IRA Beneficiaries
    • Basic difference between primary and contingent beneficiaries
    • Naming an estate or trust as a beneficiary
  • IRA Distributions includes:
    • IRS penalty exceptions prior to age 59½ and the proper IRS coding
    • Required Annual Notifications for RMDs and Withholding
    • The NINE red flags of beneficiary payouts – including reporting pitfalls
    • The three new categories of beneficiaries to determine payout options
    • Discussion of beneficiary payout options when the owner died pre-2020, beginning in 2020 and successor beneficiary options.
    • Setting up the Inherited IRA and documentation requirements

This is part 3 of a 4-part series. You can attend all the sessions to obtain the most comprehensive information or any part in the series independently.

You are encouraged to bring a sample of the IRA forms your bank is currently using for your review during the session including: IRA Distribution forms, Annuals Notices and any other forms you may have questions on.

Who Should Attend? 

This is a crucial Webinar for anyone even remotely involved in IRAs including, frontline, back office, call center, investment department, and trust department personnel will benefit greatly from the thorough discussions of the more complicated aspects of the IRA world. The content is at the intermediate to advanced level with a minimum of two years’ experience recommended. It is assumed that participants have a working knowledge of IRAs.

Instructor

Patrice Konarik

Patrice M. Konarik is president of Sunwest Training Corp. founded over 25 years ago and is located in the Texas Hill Country near San Antonio, Texas. With over 35 years in the financial industry, Patrice has focused her expertise on the retirement account area and is currently providing live training and Webinars on IRAs and Health Savings Accounts on a nationwide basis. She has a BS in Management Science from New York’s Binghamton University. Many state banking associations and other organizations use her as their main source for training on these complicated topics.

 

Attendance verification for CE credits provided upon request.

Webinar Sponsored by OnCourse Learning (Total Training Solutions)

If you are having issues with registering online, please contact CBAO's Education, Training & Special Event Coordinator, Patti Webb, (614) 610-1877.

Registration Options (Member/Non-Member Pricing)

Live Plus Five ($265/$400) – Attend the live event and receive five business days of unlimited access to the OnDemand Playback and links to presenter materials and supplementary handouts.

Live Plus Five (Additional Hookup) ($175/$265) – Registering another banker from a different location for Live Plus Five.

OnDemand Recording ($295/$450) – Receive unlimited access to the OnDemand Playback for 6 months and links to presenter materials and supplementary handouts. This option does not include live session attendance.

CD-ROM ($345/$515) – Receive the webinar recording on a CD-ROM 7-10 business days after the Live event or your registration date (whichever is the latter). Receive unlimited access to the OnDemand Playback for 6 months and links to presenter materials and supplementary handouts. This option does not include live session attendance.

Live Plus Six ($365/$545) – Attend the live event and receive six months of unlimited access to the OnDemand Playback and links to presenter materials and supplementary handouts.

Premier Package ($395/$600) – Includes all three base options. Live attendance, OnDemand Playback for six months, and the CD-ROM.

When
10/15/2021

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