CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Effective Strategies for Avoiding RMD Mistakes and Penalties for IRA Owners

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

Updated for the NEW proposed RMD Regulations which explains the SECURE Act

Required minimum distributions (RMD) must begin for the year in which the account owner reaches age 72, unless an exception applies. RMDs must also be taken from inherited accounts, and the process for determining RMDs for these accounts is more complex than those that apply to RMDs for non-inherited accounts. 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. Interested parties must understand the compliance requirements that apply to RMDs to be able to assist in ensuring that penalties are avoided.

Learning Objectives

Upon completing this course, participants will be able 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; and
  • How to get automatic waivers for the 50% excess accumulation penalty.

Course Specifics

Course ID
WC1822302131
Revision Date
October 17, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02127-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1818
CTEC Federal Tax Law Credits: 1

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Denise Appleby
Denise Appleby, MJ, CISP, CRC, CRPS, CRSP, APA

Denise Appleby is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA technical consultation, training and resources for financial, tax and legal professionals. Her primary focus is protecting retirement savings from costly mistakes. She has over 20 years of experience in the retirement plans field. Denise writes and publishes booklets and marketing tools for advisors. She has provided training to thousands of advisors about the rules and regulations, as well as compliance and operational requirements that apply to IRAs and retirement plans for small businesses. Denise co-authors books that include The Roth IRA Answer Book, The SEP, SIMPLE, …

Denise Appleby, MJ, CISP, CRC, CRPS, CRSP, APA Read More »

Effective Strategies for Avoiding RMD Mistakes and Penalties for IRA Owners

CPE CREDITS
1 Credits: Taxes

$49.00


Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET and Sunday 12pm - 4pm ET.
This webcast is 1 hours in length so you must start it before 07:00 pm ET.
Start within 11 hour(s) and 15 minutes to watch today.

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

Updated for the NEW proposed RMD Regulations which explains the SECURE Act

Required minimum distributions (RMD) must begin for the year in which the account owner reaches age 72, unless an exception applies. RMDs must also be taken from inherited accounts, and the process for determining RMDs for these accounts is more complex than those that apply to RMDs for non-inherited accounts. 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. Interested parties must understand the compliance requirements that apply to RMDs to be able to assist in ensuring that penalties are avoided.

Learning Objectives

Upon completing this course, participants will be able 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; and
  • How to get automatic waivers for the 50% excess accumulation penalty.

Course Specifics

Course ID
WC1822302131
Revision Date
October 17, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02127-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1818
CTEC Federal Tax Law Credits: 1

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Denise Appleby
Denise Appleby, MJ, CISP, CRC, CRPS, CRSP, APA

Denise Appleby is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA technical consultation, training and resources for financial, tax and legal professionals. Her primary focus is protecting retirement savings from costly mistakes. She has over 20 years of experience in the retirement plans field. Denise writes and publishes booklets and marketing tools for advisors. She has provided training to thousands of advisors about the rules and regulations, as well as compliance and operational requirements that apply to IRAs and retirement plans for small businesses. Denise co-authors books that include The Roth IRA Answer Book, The SEP, SIMPLE, …

Denise Appleby, MJ, CISP, CRC, CRPS, CRSP, APA Read More »

Effective Strategies for Avoiding RMD Mistakes and Penalties for IRA Owners

CPE CREDITS
1 Credits: Taxes

Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET and Sunday 12pm - 4pm ET.
This webcast is 1 hours in length so you must start it before 07:00 pm ET.
Start within 11 hour(s) and 15 minutes to watch today.

$49.00