Inheriting an IRA comes with its own tax nuances not only for individual beneficiaries but also for estates or trusts claiming an IRA after the death of the owner. When clients make mistakes or circumstances change, practitioners can help their clients by identifying ways to administer or transfer inherited retirement accounts after the death of the original owner. In this course we will review the inherited retirement account rules as modified by the Secure Act and identify methods of administering or transferring retirement accounts after death to minimize income tax and meet client goals. 

This course provides guidance on navigating post-death IRA and 401(k) transactions, including the tax implications of different beneficiary designations. Participants will learn how to advise clients on their options, handle complex cases requiring attorney opinion letters, and identify strategies that financial institutions may not always explain—potentially saving clients thousands in taxes.

Session Highlights: 

• Roth IRA distribution rules
• Navigating Inherited IRA Rules—What You Need to Know for Tax Planning
• Withdrawal options for trusts with one or multiple beneficiaries
• Strategies for dividing and distributing accounts from a trust or estate
• Minimizing tax liabilities and administrative costs in post-death distributions
• Describe the distribution options for inherited retirement accounts for individual beneficiaries, estates, and trusts
• Understand the methods for administering a retirement account as an asset of a trust
• Identify opportunities to distribute income to charitable beneficiaries
• Analyze an estate or trust’s ability to distribute a retirement account to charitable and individual beneficiaries 
• Recommend ideal transfer methods for retirement accounts to minimize administration complexity and income taxes
• RMDs for clients who die before their RBD
• RMDs for clients who die after their RBD
• The eligible designated beneficiary rules
• Rules for minor children as beneficiaries
• Decanting and reforming IRA trusts
• Powers of Appointment for IRA trusts

Learning Objectives:

• Explain beneficiary options for claiming inherited IRAs and 401(k)s
• Evaluate methods for dividing and distributing accounts to trusts and estates
• Analyze tax consequences of post-death distribution rules
• Determine tax-efficient distribution strategies, including RMDs and the 10-year rule
• Assess planning techniques to minimize taxes and administrative burdens

Credits and Other information:

• Recommended CPE credit – 2.0
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• NASBA Sponsor: 146439
• IRS Course ID: PJGWS
• Attendance Requirement:  Yes
• Session Duration: 2 Hours
  • Case Studies and Live Q&A session with speaker
  • PowerPoint presentation for reference

Who Will Benefit:

• CPA
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
• Financial planners

Coder Archives is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.