Surgent's Top 20 Questions Advisors Ask About the SECURE Acts and Other IRA Rules

Overview

It takes a while for advisors to gain an in-depth understanding of all the changes made to the tax laws that govern IRAs. This course focuses on the top 20 advisor questions about SECURE Act 1.0, SECURE Act 2.0, and other hot topics. The objective is to help the advisor ask the right probing questions when interacting with clients and to provide clients with responses based on their IRA profiles.

Prerequisites

None

Objectives

• Understand the new distribution options for beneficiaries, as clarified by the proposed RMD regulations for SECURE Act 1.0
• Communicate to clients new opportunities for participants and beneficiaries to avoid excise tax and costly penalties
• Talk to clients about implementing unique tax-saving opportunities for spouses and other eligible designated beneficiaries
• Be well versed in other recent developments that affect IRAs and employer plans

Highlights

• SECURE Acts and the 10-year rule
• Roth IRA beneficiary options
• Where the stretch IRA really ends
• The new limitations for spouse IRA beneficiaries
• The new spouse options for spouse beneficiaries
• New RMD rules for Roth 401(k)s
• Overriding the 10-year rule for an eligible designated beneficiary
• How the age of death affects beneficiary options
• The new early distribution penalty exceptions
• Rollovers vs. transfers for spouse beneficiaries
• Qualified charitable distributions (QCDs) for owners and beneficiaries
• The “at least as rapidly” (ALAR) rule
• New reduced rate for excess accumulation penalty on RMD failures
• How to avoid unlimited accrual of the 6% excise tax
• How to avoid unlimited accrual of the 25% excise tax
• Clarifying the definition of disability for an exception to the 10% additional tax
• 529 to Roth: who, what, when, and how
• The new starting ages for RMDs
• Designated vs. eligible designated beneficiaries and their options
• Catch-up contributions for ages 50 and over
• Catch-up contributions for ages 60 to 63
• When the 60-day deadline is missed
• When the one-per-year rollover limit is about to be broken
• Retaining qualifications for exceptions to the 10% additional tax