Tax Reporting of IRA Beneficiary Trusts: Conduit vs. Accumulation and RMD Calculations
Designated Beneficiaries, DNI Calculations, Disqualifying Terms, Form 1041 Compliance
Recording of a 110-minute CPE webinar with Q&A
This course will provide tax advisers to fiduciaries with detailed and practical guidance on the tax reporting complexities of trusts designated as IRA beneficiaries. The panel will thoroughly discuss the rules for measuring life expectancy for purposes of required minimum distributions (RMDs) and distributable net income (DNI) when using a look-through trust. The webinar will also address specific reporting issues on Forms 1041, 8606 and 5498.
- Trusts as beneficiaries of IRA
- “Stretch” treatment of RMDs within a look-through trust
- Conduit vs. accumulation trust
- DNI impact
- Tax reporting challenges of IRA beneficiary trusts
The panel will discuss these and other important topics:
- How to recognize a valid IRA beneficiary trust
- How to distinguish between a conduit trust and an accumulation trust
- Identifying designated beneficiaries of the see-through trust for purposes of calculating RMD amounts based on life expectancy of “oldest beneficiary”
- Recognizing terms in the trust document that can disqualify an IRA beneficiary trust from “stretch” treatment
- What issues does naming a QTIP as beneficiary of the IRA trust create and how to resolve them
Christopher J. Denicolo, J.D., LL.M.
Gassman Crotty & Denicolo
Mr. Denicolo is a Florida State Bar Certified Legal Specialist in Estate Planning. He is a contributing author to... | Read More
Mr. Denicolo is a Florida State Bar Certified Legal Specialist in Estate Planning. He is a contributing author to Leimberg Information Services and for The Florida Bar Journal. He has written and spoken extensively on the subject of planning for IRAs and other retirement plan assets, including co-authoring the book Planning for Ownership and Inheritance of Pension and IRA Accounts and Benefits in Trust Or Otherwise. He also speaks at bar organizations and presents nationally on the subject.Close
Edwin P. Morrow, III, Esq.
Director, Wealth Transfer Planning and Tax Strategies
Key Private Bank Family Wealth Advisory Services
Mr. Morrow advises high net worth private banking clients on tax, trust and estate planning matters. He previously... | Read More
Mr. Morrow advises high net worth private banking clients on tax, trust and estate planning matters. He previously maintained a private law practice in Cincinnati and Springboro, Ohio, working in taxation, probate, estate and business planning. He is a certified specialist in estate planning, probate and trust law through the Ohio State Bar Association. Mr. Morrow frequently contributes his expertise to lectures and publications analyzing estate planning issues.Close