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Fixing Common Retirement Plan Issues for Individuals

2 CPE for AFSP, EA, CFP®, CPA, CRTP     

There are instances where a taxpayer may miss required minimum distributions or unintentionally over contribute to their plans. Tax professionals can help taxpayers fix these issues. During this session we’ll walk through reporting missed RMDs on Form 5329, Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts, and penalty waivers available. Additionally, we’ll discuss steps to correct excess contributions, how to report the excess on Form 5329 and the tax consequences of removing excess contributions. 

Upon completion of this session, you will be able to:

  • Define missed RMDs and excess contributions 

  • Identify how to report and fix missed RMDs 

  • Summarize how to fix excess contributions and reporting requirements 

  • Prepare Form 5329  

CPE information
Duration: 100 minutes
Course level: Basic
Prerequisite: None
Advanced preparation: None
Delivery method: Group Live

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