SECURE 2.0 Act: Know the Changes to IRA, 401(k), Roth, & Other Retirement Plans FLEXCAST

Overview

After mid-term elections, speculation ran rampant regarding the potential for SECURE 2.0 to be enacted in the lame duck session. With the signing of this updated legislation, Bob Keebler reviews the incredible sales opportunities for financial and wealth planners. However, every financial and wealth planner will be required to master the important new rules contained in the bill. The best way to get a jump start and prepare for SECURE 2.0 is to join Bob Keebler in this course.

Highlights

Catch-up contribution adjustments for taxpayers aged 60-63. Transfer of 529 plans to Roth IRAs. Inflation adjustments for catch-contributions. Expanded savers matches. Removal of the 25% qualified life annuity limitation. An increase in the QLAC limitation to $200,000. A special provision for qualified birth or adoption distribution. Modifications to the statute of limitations for excess contributions. Penalty-free withdrawals from retirement plans in the case of domestic abuse. Retroactive first-year elective deferrals for sole proprietors. Modification of the treatment of IRAs involved in prohibited transactions. Important clarifications of the 10% excise tax when transfers are made to an IRC Section 72(t) SEPP plan. Instructions for the Treasury to issue legislative regulations on rollovers by January 1, 2025. Special provisions that Roth 401(k) plans will no longer be subject to the RMD rules, and more

Prerequisites

None.

Designed For

CPAs and other tax professionals.

Objectives

Identify updated RMD rules, including increase in age to 75. Describe modifications of rules involved with retirement accounts. Identify new provisions for qualified birth or adoption distributions, surviving spouses, and Roth 401(k) plans. Understand changes to the 10% excise tax. Describe withdrawal opportunities for qualified disasters and emergency expenses. Understand inflation adjustments for catch-contributions.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.