If you have clients with more than 10 million in their traditional IRAs, Roth IRAs, and vested defined contribution plans, they may have to take distributions to keep the aggregate plan balances below a certain threshold beginning in 2022. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, gets you up to speed related to:

The new proposed limits on MEGA IRAs and related forced withdrawals
How the numbers work with the 50% test and the 100% test
The best planning strategies to keep taxable income under 450k (MFJ) / 400k (S) so that the new rules won’t apply
Reviewing Roth conversion rules since this will be a key planning opportunity before year-end

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

In-depth slides to follow along with the podcast
The case for making Roth contributions before year-end
Register for our year-end planning webcast (free with CPE for PFP/PFS members)
Proactive Planning Toolkit (see audio learning for tax reform updates)

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

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What you need to know about the proposed MEGA IRA rules {PFP Section}

AICPA Personal Financial Planning (PFP)