Tax Consequences and Complexities of Inheriting a Retirement Account

Retirement accounts such as 401(k)s and IRAs have become popular vehicles for retirement savings and building wealth. It is inevitable that you or your client will inherit one. Unlike most other inherited assets, retirement accounts have tax consequences. This presentation will help you understand the tax consequences and identify what you need to know about the deceased account owner, the beneficiary, and the type of plan/account to properly determine when distributions must occur. You will also learn how to properly calculate the required minimum distributions and what happens if you miss a required distribution and how to correct.

Agenda                                                                                       

• How to Determine Required Distributions From                                                                 
  Retirement Accounts
• Distributions to Eligible Designate Beneficiaries
• Distributions to Ineligible Beneficiaries
• Inheriting Plan Assets Other Than Traditional
  Investments and Accounts
• Impact of Missing Required Distribution

Learning Objectives

After attending this live webinar, you will be able to:

• Discuss how the age of the deceased impacts the timing
  of distributions and the ‘at least as rapidly rule.
• Explain how to calculate the required minimum
  distributions, including which IRS tables to use and
  where to find them.
• Identify if the beneficiary is an eligible designated
  beneficiary or an ineligible designated beneficiary.
• describe how the timing of Roth account distribution
  may be different from traditional accounts.