IRA distributions demand precision at every step. Strengthen your Traditional IRA processes with clear guidance on discretionary distributions, required minimum distributions, reporting responsibilities, and compliance requirements. Communication is an essential component in the handling of required minimum distributions and discretionary IRA transactions. Trustees and custodians must report contributions, distributions, fair market values, required distributions, and more to IRA owners and/or the IRS. Join us to go through the required IRA statements and reports, enabling you to audit your processes, update them if necessary, and ensure you're in compliance with the requirements.
KEY WEBINAR TAKEAWAYS
- Premature distribution penalty tax and exceptions
- Traditional, SEP, and SIMPLE RMDs
- Calculating an IRA owner’s RMD based on the applicable age and IRA balance
- Required distribution statements and reports
BONUS MATERIALS
- Job aid: Calculating Required Minimum Distributions
- Link to IRS Publication 590-B
- Link to IRS Form 1099-R
- Link to IRS Form 1099-R instructions
WHO SHOULD ATTEND?
- Training personnel tasked with training IRA professionals
- Frontline staff processing IRA distributions
- Compliance staff spot-checking IRA transaction processing
- Compliance and operations staff preparing files for, or completing, IRA owner and IRS statements and reports
MEET THE PRESENTER
Loni Porta
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