General Information

Course Description

The Retirement Plans, Pensions, and Annuities course explains the federal tax treatment of distributions from retirement plans, pensions, IRAs, and annuity contracts.

The course begins with the proper classification of retirement vehicles and the analysis of documents such as Form 1099-R and Form 5498 to determine which portions must be reported as taxable income.

The program explains the recovery of after-tax contributions, the Simplified Method and General Rule, direct rollovers, trustee-to-trustee transfers, 60-day rollovers, and Roth conversions.

It also covers the use of Form 8606 for IRA basis tracking and the pro-rata rule when taxpayers have both pre-tax and after-tax IRA balances.

Practical preparation includes early distributions, exceptions to the additional tax, Form 5329, required minimum distributions (RMDs) for owners and beneficiaries, the 10-year rule, and integrated Form 1040 case studies.

The course emphasizes documentation, form reconciliation, and professional review of complex situations including inherited IRAs, Roth conversions, and missed RMD requirements.

Course Objective

Train participants to analyze retirement documents, determine the taxable portion of pensions, annuities, and IRA distributions, identify rollovers, additional taxes and exceptions, apply required minimum distribution rules, and accurately report retirement transactions on the individual federal income tax return.

Learning Objectives

• Classify retirement plans, pensions, IRA accounts, and annuities.
• Interpret Form 1099-R, Form 5498, and related retirement documents.
• Determine whether distributions are fully or partially taxable.
• Apply the Simplified Method or General Rule when required.
• Differentiate direct transfers, direct rollovers, and 60-day rollovers.
• Analyze Roth conversions and IRA basis using Form 8606.
• Identify early distributions, exceptions, and required minimum distributions.

Who Should Take This Course

• Tax return preparers serving clients with pensions, annuities, or retirement accounts.
• Enrolled Agents and tax professionals seeking stronger knowledge of Form 1099-R reporting.
• Professionals handling rollovers, Roth conversions, inherited IRAs, and required minimum distributions.
• Tax preparers who need to properly apply Form 8606 and Form 5329 with supporting documentation.
• Participants with basic Form 1040 preparation knowledge seeking intermediate-level training.

Course Content – 6 Modules

What You Will Achieve

• Identify the type of retirement plan or account and apply the correct federal tax treatment.
• Determine taxable and non-taxable portions of pensions and annuities.
• Reconcile Form 1099-R transactions with rollovers and transfers.
• Apply Form 8606 for nondeductible contributions and Roth conversions.
• Evaluate additional taxes and properly document exceptions using Form 5329.
• Calculate and review required minimum distributions.
• Identify potential errors before filing tax returns.

Course Materials

• Course Book: Retirement Plans, Pensions, and Annuities
• Form 1099-R and Form 5498 for retirement distributions and IRA analysis.
• Form 8606 for IRA basis tracking and Roth conversions.
• Form 5329 for additional taxes and RMD reporting.
• IRS Publications 575, 590-A, 590-B, and 939.
• Official guides and worksheets for required minimum distributions.
• Integrated case studies covering pensions, rollovers, conversions, and inherited IRAs.

Assessment

Frequently Asked Questions