IRA Basics & Advanced IRA Issues - 2023 (EM-IRA) 2023 | FORVIS | 29 November 2023 | Embassy Suites by Hilton Lexington Green, 245 Lexington Green Circle Lexington, Kentucky 40503, USA

Thanks to a flurry of legislative and regulatory developments, IRA providers nationwide are fighting uphill battles as they strive to comply with numerous recent changes to the laws governing IRAs. These changes affect virtually every facet of IRA administration and servicing including eligibility, funding, withholding, reporting, required minimum distributions and inherited IRA distributions. As the IRS continues to issue guidance concerning the implementation of these changes, it is imperative that IRA providers stay abreast of these developments—both the help ensure internal compliance as well as to provide top-notch customer service to IRA clients.

By keeping abreast of these changes, IRA providers will be well positioned to better understand and implement the ongoing changes that are being made to the provider’s systems, forms, and procedures and be able to identify when additional steps may be warranted to help ensure ongoing compliance.

Following is a partial list of the topics that we will cover in the upcoming training sessions.

• The ever-changing RMD starting age
• Reduction of the 50 percent excess accumulation penalty for RMD failures
• Special rules surrounding excess accumulation for year-of-death RMDs
• Roth contributions for SEP and SIMPLE IRA arrangements
• Expanded opportunities for Qualified Charitable Distributions
• Federal matching contributions for qualified savers (direct deposit to IRAs)
• Significantly increased SIMPLE IRA employer funding opportunities
• Special rules for distributions made on account of domestic abuse, terminal illness, or disaster recovery
• Options and limitations surrounding trust beneficiaries
• Enhanced tax credits for small business plans
• Industry best practices for dealing with Inherited IRAs
• New IRA withholding processes