Employee Plans-Retirement Plan Distributions and Related Taxes

IRS [Internal Revenue Service]

Recorded July 27, 2017

The IRS Tax Exempt Government Entities /  Employee Plans (TEGE / EP) Division presented this seminar at the 2017 IRS Nationwide Tax Forum.

This session discusses distribution rules for 401(k) and IRA-based SEP and SIMPLE retirement plans and how payments are taxed to recipients. The seminar will cover distributions made before retirement, at retirement and to beneficiaries.

Learn about:

• pre-retirement distributions due to loans, financial hardship and divorce;
• 10 percent additional tax on early distributions;
• distributions at separation from service;
• rollover rules for transferring money between plans and IRAs;
• required minimum distributions at age 70 1/2;
• distributions to spouse and non-spouse beneficiaries;
• reporting requirements for plans and recipients; and
• how to find, fix and avoid distribution mistakes in plans.

By the end of this presentation, you will be able to:

• Identify the distribution methods available in SEP’s, SIMPLE’s, and 401(k) plans
• Differentiate between spouse and non-spouse beneficiary rules
• Determine which Publication to research to calculate estimated tax payments on distributions
• List employee benefits to establishing or enrolling in a retirement plan

Identify when a Loan can become a distribution

No prerequisites or advanced preparation are required for this seminar.

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