New Rules Regarding IRA Beneficiary Payouts

The long-awaited SECURE Act was signed into law on December 20, 2019. Most of the provisions affecting IRAs are in effect as of January 1, 2020 including huge changes to Beneficiary Payout Options. Everyone who has any contact with IRAs must know this important information ASAP to make sure old Beneficiary Options are not used for IRA owners who died beginning in 2020.

Covered Topics

  • What are the old rules for IRA nonspouse beneficiary payouts?
  • What are the new rules for IRA nonspouse beneficiaries?
  • What are the payout rules for successor beneficiaries?
  • What "designated beneficiaries" are exempt from the new rules?
  • How will the new rules affect the account dormancy rules and escheatment to the State?
  • What are the estate planning effects of the new beneficiary payout rules imposed by the Secure act of 2020?

Who Should Attend?

Everyone even remotely involved in discussing, selling, administrating and processing IRAs should attend. This includes, member service reps, new account reps, operations, call center reps, trust officers, investment advisers and anyone else who doesn't want to give wrong information to their clients or members.