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Item No: AI-IRD
IRA’s – one of the most sophisticated deposit products that financial institutions offer. Simultaneously navigating the requirements of federal law while answering customer questions requires well trained employees with good resources at their fingertips. That’s what this manual offers.
• Traditional IRAs
• Roth IRAs
• Eligibility requirements
• Contribution limits and deductibility
• Participant distributions – voluntary and mandatory
• Beneficiary distributions – voluntary and mandatory
• Penalties and penalty waivers
• Information reporting from the 5498 to the 1099R
• Changes affecting IRA Administration in the upcoming year
Designed for more experienced personnel, the manual also focuses on frequently asked questions regarding:
• Rollovers and transfers after age 70 ½
• Establishing beneficiary accounts and paying out to beneficiaries
• Transferring a beneficiary IRA to another institution
• Transfers from qualified retirement plans
This manual does NOT cover:
• SIMPLE IRAs,
• HSAs or
• Coverdell Education Savings Accounts.