IRA Basics – Compliance.ai
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Item No: AI-IRB
This manual covers the basics of traditional and Roth IRAs without becoming overwhelming. If you have general knowledge of IRAs but need a shot of confidence before IRA season cranks up, this manual is for you. This manual is user-friendly for easy, on-the-job reference, and other resources for assisting the bank’s IRA customers. The manual will cover the following questions:
- What are the differences between Roth and traditional IRAs?
- What forms and documents are needed to open an IRA?
- Who can have a traditional or Roth IRA?
- What are the contribution limits?
- Who can make “catch-up contributions” and what are the limits?
- What are the rules for calculating distributions to participants?
- How are IRA beneficiaries determined?
- What are the options available for paying out to IRA beneficiaries?