IRA’s Part 3 – Distributions and Beneficiary Payouts Webinar

In part three of this four-part series we will look at how the money flows to a primary vs. contingent beneficiary. Plus, watch out for the 9 red flags of beneficiary payouts.

Webinar Description and Intended Audience

The most legal part of the IRA paperwork is the Beneficiary Designation section and actually paying to the correct beneficiary. Understanding who gets the money at death and what options the beneficiaries has will prevent incorrect payouts and possible liability to the bank.

In part three of this four-part series we will look at how the money flows to a primary vs. contingent beneficiary. Plus, watch out for the 9 red flags of beneficiary payouts. The new shortened payouts to nonspouse beneficiaries as part of the SECURE Act and CARES Act provisions will also be discussed.

What You Will Learn

  • Basic difference between primary and contingent beneficiaries
  • Naming an estate or trust as a beneficiary IRA Distributions includes:
    • New IRS penalty exceptions prior to age 59½ and the proper IRS coding
    • Required Annual Notifications for RMDs and Withholding
    • The NINE red flags of beneficiary payouts – including reporting pitfalls
    • Discussion of beneficiary payout options – including spouse, nonspouse, estate and trust
    • Setting up the Inherited IRA and documentation requirements

This is part three of a four-part series. While attending one part of the webinar series may help, attending all four parts will give you the most comprehensive breakdown of the rules and regulations.

You are encouraged to bring a sample of the IRA forms your bank is currently using for your review during the session including: IRA Distribution forms, Annuals Notices, Beneficiary Election form and any other forms you may have questions on.

Who Should Attend?

This is a crucial webinar for anyone even remotely involved in IRAs including, frontline, back office, call center, investment department, and trust department personnel will benefit greatly from the thorough discussions of the more complicated aspects of the IRA world. The content is at the intermediate to advanced level with a minimum of two years’ experience recommended. It is assumed that participants have a working knowledge of IRAs.

Webinar Viewing Options

LIVE WEBINAR:                                              

INCLUDES 7 DAYS OF UNLIMITED ONDEMAND PLAYBACK!  With this option, you will participate in the webinar live, via the internet. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time.  And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!

SIX MONTH ONDEMAND VIDEO:

With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it a very effective training tool. The OnDemand Video will be available to you (and anyone else in the company) for six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.

CD-ROM VIDEO:

If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool.  With this option, you will receive a download of any applicable handouts and a CD-ROM (featuring the full-color PowerPoint presentation with audio) via regular mail. Mailed 7 to 10 days after the webinar takes place.

IN-HOUSE:                                                        

Webinars can be scheduled and offered exclusively for your company.  They can even be customized to best fit your needs.  To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.

Continuing Education (CE) Credits

This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.

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