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Course description

New law changes the always confusing 70 ½ to 72 for both contributions and distributions to IRAs.  The SECURE Act eliminates the “stretch” IRA in most cases which creates long-reaching repercussions for tax planning for nonspouse.

Overview:

On Dec. 20, the President signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), it has many changes to retirement plans and this one-hour update will cover the Individual Retirement Changes! The age of 70 ½ has now been changed to 72 for distributions for Traditional IRAs.   The inherited IRA has been changed from the “stretch” of a beneficiary’s life expectancy to 10 years.  

Highlights:

  • Certain taxable non-tuition fellowship and stipend payments treated as compensation for IRA purposes. 
  • Repeal of maximum age for traditional IRA contributions
  • Penalty-free withdrawals from retirement plans for individuals in case of birth of child or adoption
  • Increase in age for required beginning date for mandatory distributions to 72
  • Changed the Qualified Charitable Distribution to 72
  • Modification of required distribution rules for designated beneficiaries.
  • Increase in penalty for failure to file.
  • And IRS proposed new life expectancy tables

You will receive: 

500+ Page IRA manual updated for these changes and others for the 2020 tax year. 

WHO SHOULD ATTEND?

Ira Administrators, Branch Administration, Deposit Operations, Accounting Services, Compliance, Customer Service Representatives, Personal Bankers, Branch Managers and Training

Instructor(s)

Deborah Crawford

Deborah Crawford is the President of gettechnical inc. She specializes in compliance and regulations for the deposit side of financial institutions. Her 27+ year career in banking and training began at Hibernia National Bank. She has been a seminar leader for many state associations and credit union groups across the nation. She has Bachelors and Masters degrees from Louisiana State University.

Course curriculum

  • 1

    Webinar

    • Access Webinar
  • 2

    Materials

    • Materials

    • Slides

    • Questions and Answers