Hot Topic Series-SECURE Act

Understanding the SECURE ACT of 2020
Tuesday, April 7, 2020
8:30 am Registration begins
9 am to 4 pm Program 
MS Sports Hall of Fame, 1152 Lakeland Dr., Jackson,
$249 per MBA member banker, $498 per non-member

Click Here to Register

About the Seminar:
The SECURE Act was signed into law under the Appropriations Act on December 20, 2019, and most provisions went into effect on January 1, 2020.  These are the most substantial changes to IRAs in close to 15 years.  These changes present many issues and potential pitfalls to banks so a working knowledge of these changes is key.  With this rule change, you will need to know the old AND the new rules.  This one day seminar will summarize the changes and break down the details about new distribution regulations to owners and beneficiaries --- what stays the same and what changes?  How do we disclose these changes to our customer?

Course Objectives:
What are the major effects of the SECURE Act of 2020?
What is the beginning age for IRA Required Minimum Distributions?
What is the major impact of the loss of the ‘stretch’ IRA payout for non-spouse beneficiaries?
Will we have to send out amendments to our IRA accountholders?
Clarifying reporting of Qualified Charitable Distributions to the IRS and why they become more prevalent over the next couple of years
What are the mandatory notices and reporting to be distributed to IRA accountholders this year?
Why are IRA trust beneficiaries less advantageous beginning in 2020?
Why are estate beneficiaries even worse?
Should we ditch the revocable trusts that stay revocable until the last grantor dies and why?
What are some of the new financial and estate planning philosophies evolving from the changes in the SECURE Act affecting beneficiary payouts?

Who should attend?  Account representatives, Certificate of Deposit Personnel, Investment Advisors, Trust Personnel, Operations Personnel

What you will receive: With your registration, the updated “Red Book” IRA manual produced by Patrice Konarik.  In addition, your registration will provide continental breakfast, breaks, lunch and a certificate of attendance.

*  Please bring a copy of your bank’s IRA Application form, Contribution Form, Distribution Form and Rollover Review or Rollover Certification Form along with any other forms that you may have questions about.