Remedying IRA Contribution and Distribution Errors
Correcting Overcontributions, Form 5329 Penalty Calculations and Waivers, Self-Certification for Late Rollovers
Note: CLE credit is not offered on this program
A live 110-minute CPE webinar with interactive Q&A
This webinar will explain how to expedite the correction of errors that taxpayers frequently make when contributing and distributing money to and from IRAs. Our panel will review common missteps, including overcontributions, missed required minimum distributions (RMDs) and rollover deadlines, prohibited transactions, appropriate steps to remedy errors, and advice for mitigating related penalties.
Outline
- IRA contributions and withdrawals: introduction
- SECURE Act's impact on IRAs
- Common errors and corrections
- Overcontributing
- Missed rollover deadlines
- Missed RMDs
- Age 72/73
- Inherited IRAs
- Penalties
- Penalty relief
Benefits
The panel will cover these and other key issues:
- Steps to remedy and report overcontributions to IRAs
- IRS self-certification process for missed rollover deadlines
- Preparing Form 5329 to ask for a penalty waiver
- The impact of SECURE Act 2.0 on IRA contributions and distributions
Faculty
Larry Pon, CPA/PFS, CFP, EA, USTCP, AEP
CPA/PFS, CFP, EA, USTCP, AEP
Pon & Associates
Mr. Pon has been in practice since 1986 providing comprehensive accounting, tax, payroll, and business advisory... | Read More
Mr. Pon has been in practice since 1986 providing comprehensive accounting, tax, payroll, and business advisory services. He specializes in tax preparation, tax representation, tax planning, business planning, financial planning, and estate planning. Services include IRS and state audit representation, business startup services, and charitable planning. Mr. Pon is a frequent author and lecturer to financial and legal professionals and the public on tax and financial planning topics.
Closeto be announced.
Early Discount (through 10/25/24)
CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event.
See
NASBA details.
Cannot Attend November 14?
Early Discount (through 10/25/24)
CPE credit is not available on downloads.
CPE On-Demand