Mar 10 - 11 2021


1:30 pm - 10:00 pm

IRA Conference


Day 1: Individual Retirement Account (IRA) Essentials

IRA Essentials gives attendees a solid foundation of IRA knowledge. Exercises are included throughout the day to help participants apply information to job-related situations. Attendees will leave this session able to work with IRA owners and process basic IRA transactions with confidence. This is a beginner’s session; no previous IRA knowledge is assumed. Attendees should bring a hand-held calculator.

Introduction and Establishing IRAs

IRA Distributions

  • Identify the tax advantages of Traditional and Roth IRAs
  • Identify federal income tax withholding requirements
  • Summarize the IRA opening document
  • Recognize the exceptions to the early distribution requirements penalty tax
  • Explain the difference between primary and contingent
  • Summarize the tax consequences of Traditional and Roth beneficiaries

IRA distributions IRA Funding

  • Define a required minimum distribution and the required beginning date 30 minutes)
  • Communicate the distribution reporting deadlines
  • Compare and contrast Traditional and Roth IRA eligibility requirements

IRA Portability

  • Explain the regular contribution limit minutes)
  • Distinguish the regular contribution deadline
  • Differentiate between a transfer and a rollover
  • State the rules for prior-year contributions
  • Distinguish between direct and indirect rollovers
  • Communicate the regular contribution reporting deadlines between IRAs and employer-sponsored retirement plans

Day 2: Advanced Individual Retirement Accounts (IRAs)

Advanced IRAs builds on the attendees’ basic IRA knowledge to address some of the more complex IRA issues that their financial organizations may handle. This is an advanced session; previous IRA knowledge is assumed. The instructor uses real-world exercises to help participants apply information to job-related situations.

Course Topics May Include

IRA Update

  • Explain recent changes affecting IRA owners
  • Discuss the current Roth modified adjusted gross income (MAGI) limits
  • Recognize how recent changes may affect your financial organization

Required Minimum Distributions

  • Calculate a required minimum distribution (RMD)
  • Discuss the RMD rules and reporting requirements

Beneficiary Options

  • Describe beneficiary distribution options
  • Recognize the differences for spouse, non-spouse, and nonperson beneficiaries
  • Explain beneficiary payment deadlines

Advanced Portability

  • Summarize the restrictions on the movement between IRAs
  • Recognize the options available when moving from an employer-sponsored retirement plan to an IRA
  • Explain the result of violating the portability restrictions

Roth IRA Conversion Contributions

  • Describe a conversion
  • Explain the effect of withholding on a conversion
  • Report a conversion
  • Define the consequences of an ineligible conversion

Withholding and Getting It Right

  • List the possible penalties for failing to withhold
  • Explain the withholding notice and election requirements
  • Discuss how withholding is reported and transmitted to the IRS
  • Describe foreign withholding requirements

Who Should Attend?

You should attend this seminar if you are:

  • an IRA administrator, personal banker, or member services personnel who has a working knowledge of basic IRA operations and wishes to expand your expertise and provide enhanced customer service;
  • a financial professional who recognizes that IRAs play an integral role in retirement planning;
  • a compliance specialist with procedural oversight of IRA policies and practices; or
  • support personnel responsible for promotional materials that describe the services provided by your financial organization.

Register Now!

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