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Cracking RMDs: Your Roadmap to Retirement Security 1 Credit

Dec 24, 2024, 03:30 PM ET

Cracking RMDs: Your Roadmap to Retirement Security 1 Credit

  • Steve Abramson

    CPC, CLU, ChFC
  • Rating

    4.4
  • Published on

    July, 2024
  • Subject Area

    Taxes

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Dec 24, 2024, 03:30 PM ET

Learning Objective

  • Discuss the application of the life expectancy tables provided in IRS Publication 590-B, depending on the distributee's status.
  • Explain keywords in IRC §401(a)(9) will also be defined and applied to specific fact patterns.
  • Review the changes made to the RMD rules regarding the Required Beginning Date (RBD).
  • Discuss the relationship between EDBs, the RBD, and the Distribution Calendar Year (DCY).
  • Identify the approach to RMDs in defined benefit plans, which differs from the traditional lump-sum distribution to one based on monthly benefits.

Course Overview

Required Minimum Distributions (RMDs) are critical to retirement planning but often seem complex.

Understanding RMDs is essential for retirees to navigate tax implications and ensure their financial security in retirement. This CPE Course aims to demystify RMDs, clarifying what they are, how they work, and the strategies to optimize them.

This CPE Course, led by Steve Abramson, will comprehensively cover all aspects of Required Minimum Distributions, including changes made by The SECURE Act and SECURE 2.0.   IRC §401(a)(9), only seven pages, has generated extensive IRS guidelines in Revenue Rulings, Notices, and periodic legislation.  The course will provide practical examples of various circumstances when RMDs are required, including the naming of beneficiaries, the newly defined Eligible Designated Beneficiary (EDBs), and the new ten-year rule.  For any financial advisor or CPA, this course is essential in effectively advising clients to be sure they comply with all applicable laws and regulations.

Key topics covered:

  • General Rule: IRC 401(a)(9)
  • Definitions: Qualified Trust, Entire Interest
  • Required Beginning Date: Applicable Age
  • Eligible Designated Beneficiary
  • Distribution Examples

Join this CE Course to demystify Required Minimum Distributions (RMDs), understand their complexities, and optimize strategies for enhanced retirement planning and financial security.

Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent.

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Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) 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.

About Instructor

One of the best live CE/CPE/CPD/PL courses with Steve Abramson
Steve Abramson , CPC, CLU, ChFC

President, APS Pension and Financial

  • 4.3
  • rating
  • rating
  • rating
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Stephen Abramson is the President and founding partner of APS Pension & Financial Services established in 1977, a mid-size consulting and actuarial firm employing twenty-two professional and support staff specializing in pension and pension-related services.  For over 40 years, APS has been providing closely held businesses with financial services including pension design and administration, business succession planning, and wealth preservation planning. In 2015 APS Investment Management was established to provide fiduciary services to 401(k) and 403(b) plans and in 2018 APS Wealth Management, a Registered Investment Advisor (RIA), was established to provide investment management services to individual clients and retirement plans replacing his previous relationship with a Broker/Dealer.  Steve has taught professional level education programs for the American Society of Pension Actuaries; lectured to various professional groups, including the National Conference of CPA Practitioners, The NYS Society of CPAs, Nassau Bar Association, the C.W. Post Tax Institute, and the National Institute of Pension Administrators; and conducted continuing education seminars for Certified Public Accountants for the past 35 years. He is co-author of Plan Smart, Retire Rich published by McGraw Hill in 1998; author of Advisor’s Guide to Qualified Plans originally published by Aspen Publishing in March, 2002 and recently in the process of being updated with the 8th edition, and Retirement Financial Management for Clients Approaching Retirement published by Aspen Publishing in August, 2002.  A less technical version of Advisor’s Guide to Qualified Plans entitled Guide to Qualified Retirement Plans: A Plain Language Primer was published by the International Association of Employee Benefits in March 2005.  The second edition of this book was released in 2008.

Steve graduated from Cornell University in 1964, earned the designation of Chartered Life Underwriter in 1967 from the American College, Certified Pension Consultant in 1970 from the American Society of Pension Professionals and Actuaries and Chartered Financial Consultant from the American College in 1972.


On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

out of 5

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1,824 ratings

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FG

Frederic Gore, CPA (US)

The presenter was very knowledgeable about all aspects of RMDs and I feel I got a very well-rounded knowledge and presentation of the subject from him.

SG

Steve Gentry, CPA (US)

This presentation provided very good information regarding criteria in how to determine required distribution amounts.

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