With the movement of assets being one of the more common transactions that occur in retirement accounts, the laws of probability dictate that some of these movements will result in mistakes. These mistakes are costly and include loss of tax deferred treatment from unintended distributions- both for owners and beneficiaries, loss of eligibility for an exception to the 10% early distribution penalty, and excise taxes that can wipe out years of savings and growth. This presentation is intended to help you gain the knowledge to effectively help your clients avoid these mistakes when moving their retirement accounts.
Denise Appleby is chief executive officer of Appleby Retirement Consulting Inc., a firm that provides individual retirement account (IRA) resources for financial, tax, and legal professionals. She has more than 20 years of experience in the retirement plans field, which includes training and technical consultation. Ms. Appleby writes and publishes educational and marketing tools for advisors and has co-authored several books on IRAs. She is a graduate of the John Marshall Law School where she obtained a MJ in employee benefits and has earned five professional designations pertaining to IRA and retirement account tax laws. She has appeared on numerous media programs, sharing her insights on retirement account rules and regulations.