Inherited IRAs and Death Distributions

Program Overview:

Due to increased level of questions on death distributions, we are offering for the first time a new seminar on setting up inherited IRAs and death distributions. The final regulations are out and the new law and life expectancy tables make this area one of change and new focus for IRA administrators. When your financial institution has a deceased customer and a beneficiary or multiple beneficiaries inherit, the bank is catapulted into the maze of system problems and beneficiary options. Questions arise from your customers. When do pay outs begin? How are the pay outs calculated? Can inherited IRAs be transferred? Who pays the taxes? This is not a workshop for beginners. It is a super training for IRA administrators and IRA support staff. Bring a calculator and plenty of pencils and erasers. You will receive the updated IRA handbook.

What you will learn:

Designated versus non designated beneficiaries
Determination date of beneficiaries
Qualified versus nonqualified trusts as beneficiaries
Treating the IRA as spouse’s own
Setting up an inherited IRA
Reporting an inherited IRA
Separate account for beneficiaries
Disclaimers
Transferring inherited IRAs
Successor beneficiaries
Timing of elections
Calculations of the distribution
Much, much more

Who should attend:

Only experienced IRA administrators and personnel should attend. This is a super advanced class.

Recommended time:
3 educational hours