IRA Basics and Advanced Manual

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Electronic Item No: EM-IRA
Price: $280/$250

IRAs are savings plans designed by the federal government. They are established and maintained under regulations issued by the Internal Revenue Service (IRS). Strict adherence to these regulations by both the financial institution and the IRA holder is critical.

This manual covers the basics of traditional and Roth Individual Retirement Arrangements (IRAs). It provides clear definitions of terms unique to IRAs and lays the foundation for a better understanding of Internal Revenue Service (IRS) requirements for opening traditional and Roth IRAs, contribution and distribution requirements, as well as rollovers and transfers rules.

The manual also tackles issues and complications in depth. It covers requirements related to the recently updated RMD regulations and inheritance requirements as well as various other complex issues related to contributions, distributions, rollovers and transfers.

*Responsibilities of IRA custodians accepting IRAs into bank CDs are the focus of this program. Fiduciary concerns associated with IRA trustees are not discussed.*

IRA Basics

• Introduction to IRAs
• Types of IRAs
  • Traditional IRA
  • Roth RIA
  • Overview of SEP & SIMPLE IRAs
• Establishing an IRA
  • Documentation requirements
• Contribution and Deduction Eligibility
• Overview of Rollovers, Transfers, Conversions, and Recharacterizations
• Distributions
  • RMD overview
  • Roth IRA rules
• Beneficiaries and Inheritance Basics
• Overview of Health Savings Accounts
• Overview of Coverdell Education Savings Accounts

Advanced IRA Issues

• Complex Contribution Issues
  • Excess contributions
  • Recharacterizations
  • Catch-up contributions
• Advanced Distribution Rules
  • Detailed RMD calculations
  • Roth IRA ordering rules
  • Qualified Charitable Distributions
• Beneficiaries and Inheritance (in-depth)
  • Stretch IRA changes
  • Rules for non-spouse beneficiaries, spouse beneficiaries, and trusts
• Complex Rollovers, Transfers and Conversions
  • Employer plan-to-IRA rollovers
  • IRA-to-IRA transfers
  • IRA-to-IRA rollovers
  • Roth IRA conversions
• Reporting Requirements

WHO SHOULD ATTEND

Whether you are looking to gain basic knowledge of IRAs, raise your comfort level, or sharpen your skills with the most up-to-date rules and regulations, this two-day format will cover it all. From new hires to seasoned, in-house IRA gurus, this jam-packed two-day training agenda offers something for everyone involved with IRAs including, but not limited to:

• new account representatives,
• certificate of deposit personnel,
• savings counselors,
• accountholder service representatives,
• investment and trust personnel,
• compliance officers, and
• any other officers/managers who oversee IRA operations

Program Level:

• IRA Basics – Basic
• Advanced IRA Issues – Advanced

Prerequisite: Basic Exposure to IRA’s

Advanced Preparation: None

Delivery Method: Group-Live

Field of Study: Specialized Knowledge