Advanced IRAs, facilitated by Ascensus, 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.
Topics
IRA Update
• Explain recent changes affecting IRA owners
• Recognize how recent changes may affect your financial organization
IRA Excess Contributions
• Define an excess contribution
• Identify excess contribution correction methods
• Describe a recharacterization
• List the possible taxes and penalty taxes for excess contributions
Required Minimum Distributions
• Calculate a required minimum distribution (RMD)
• Discuss the RMD rules and reporting requirements
Beneficiary Options
• Describe beneficiary distribution options when an IRA owner died before January 1, 2020, or dies on or after January 1, 2020
• Recognize the differences for the various beneficiary types
• Explain beneficiary payment deadlines
Advanced Portability
• Summarize the restrictions on the movement between IRAs
• Describe a conversion
• Explain the effect of withholding on a conversion
• Recognize the options available when moving from an employer-sponsored retirement plan to an IRA
• Explain the result of violating the portability and conversion restrictions
Continuing Education
ABA Professional Certification - 7.25 credits for CISP, CRSP, and CTFA
Audience
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.
Fee Per Person
Clients of Ascensus qualify for the IBA member rate.
Member $265
Nonmember $445