IRA Distributions: Premature and Normal

Our members always want to know how to avoid paying taxes when they take money out of their IRA. Well, if they haven’t paid taxes on this money yet then they cannot avoid paying taxes. The only thing they may be able to avoid are penalties. In this IRA webinar, we will work on the distribution side of the IRA. You will learn various distributions from the IRA, from premature to normal distributions and how to report them to the IRS. We will cover the reporting and the penalties your customer may face if this is done improperly. 

Covered Topics

  • Premature distributions
  • IRS Tax levies
  • Normal distributions
  • Distribution codes for Roth and Traditional 
  • How to calculate 70 ½ distributions
  • Required beginning date
  • Life expectancy payouts
  • Reporting
  • Penalties and how to “avoid” those penalties

Who Should Attend?

This webinar will benefit all IRA administrators, personal bankers, trust offers, member service representatives and those selling or discussing these products with their customers or members.