CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Guide to the Early Distribution Penalty Exceptions for Distribution from Retirement Accounts - Part 1

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

Distributions from retirement accounts that occur before the account owner reaches age 59½ are subject to a 10% additional tax, unless an exception applies.

Eligibility for any of these exceptions is determined by several factors, including the type of account from which the distribution is made. Making a wrong move can result in a retirement account owner losing eligibility for an exception. In some cases, exceptions can only be claimed through proper reporting on the individual’s tax return.

Learning Objectives

Upon completing this course, participants will be able to:

  • To be able to identify distributions that might be subject to the 10% early distribution penalty;
  • To ensure that clients who qualified for the exceptions do not pay the 10% early distribution penalty because of conflicting tax reporting by IRA custodians and plan trustees;
  • To understand the tax reporting requirements that apply to early distributions; and
  • To determine suitability for the substantially equal periodic payment program.

Course Specifics

Course ID
WC1822303660
Revision Date
October 24, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02138-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1828
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 »

Guide to the Early Distribution Penalty Exceptions for Distribution from Retirement Accounts - Part 1

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 10 hour(s) and 45 minutes to watch today.

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

Distributions from retirement accounts that occur before the account owner reaches age 59½ are subject to a 10% additional tax, unless an exception applies.

Eligibility for any of these exceptions is determined by several factors, including the type of account from which the distribution is made. Making a wrong move can result in a retirement account owner losing eligibility for an exception. In some cases, exceptions can only be claimed through proper reporting on the individual’s tax return.

Learning Objectives

Upon completing this course, participants will be able to:

  • To be able to identify distributions that might be subject to the 10% early distribution penalty;
  • To ensure that clients who qualified for the exceptions do not pay the 10% early distribution penalty because of conflicting tax reporting by IRA custodians and plan trustees;
  • To understand the tax reporting requirements that apply to early distributions; and
  • To determine suitability for the substantially equal periodic payment program.

Course Specifics

Course ID
WC1822303660
Revision Date
October 24, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02138-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1828
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 »

Guide to the Early Distribution Penalty Exceptions for Distribution from Retirement Accounts - Part 1

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 10 hour(s) and 45 minutes to watch today.

$49.00