1 Credits: Taxes
The proposed regulations for SECURE Act 1.0 contradicted the industry interpretation of the 10-year rule for specific beneficiaries. In response to criticisms from the public, the IRS Published Notice 2022-53, under which they waived the excise tax on RMDs for affected beneficiaries for 2021 and 2022. On July 14, they published Notice 2023-54, which provides additional relief for these RMDs and expanded coverage to include SECURE Act 2.0 RMDs for IRA owners who attain age 72 in 2023.
Join Denise Appleby as she explains how to identify clients who qualify for the automatic waiver and how to help clients restore these ‘non-RMD’ amounts to their retirement accounts.
Upon completion of this course, participants will be able to:
- Which beneficiaries qualify for the waiver of RMD excise tax for 2021, 2022, and 2023;
- The rollover rules for “2023 ‘non-RMDs’”; and
- Alternate solutions for rollovers beyond those provided under Notice 2023-54.
July 31, 2023
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02363-23-O
IRS Federal Tax Law Credits: 1
CTEC Course Number: 2071-CE-1928
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 registration 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. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
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, …