Exploring the IRA Universe - 4 Part Series

This four part series includes the following webinars. Click each link for a complete description of what will be covered in each session. Each webinar can also be purchased individually.

Exploring the IRA Universe - Part I (Definitions, Forms and Plan Types) - Thursday, October 19th

The goal of this Part I IRA Basic Webinar is to start at the beginning of "What is an IRA?" Who can have an IRA? How much can they contribute?

Exploring the IRA Universe - Part II (IRA Transfers and IRA and QP Rollovers) - Thursday, October 26th

Learn about important recent changes to the world of IRA Rollovers.

Exploring the IRA Universe - Part III (Beneficiaries and Distributions) - Friday, December 1st

If you are searching for a Webinar where you will achieve that higher “comfort level” on these complicated topics, this seminar is “must-attend”.

Exploring the IRA Universe - Part IV (How to Audit your IRA Accounts) - Tuesday, December 5th

If you don't want to write checks to the IRS for filing errors, this webinar is a "must attend"!

Covered Topics:

Exploring the IRA Universe - Part I
  • Review of top terminology of IRAs
  • Basic Forms Required To Open, Close, Move and Maintain IRAs (have your own forms - including application, contribution and distribution forms - available during the webinar)
  • Qualifications, Contribution Limits and Deadlines for:
    • Traditional IRA and Roth IRAs
    • Conversion Roth (IRS codes and reporting)
    • SEP IRAs
Exploring the IRA Universe - Part II
  • Why is it important to QUALIFY the money coming into the financial institution?
  • What are the three questions that should be verified?
  • What is the IRS definition of an IRA for rollover qualification purposes?
  • What happens if an IRA accountholder exceeds the once-per-12-month rule?
  • What are the exceptions for the 60 day time period where the customer can “self-certify” the rollover is still allowed?
  • What are the alternatives to moving money from IRA to IRA if not a “rollover”?
  • Which IRA Forms are used and how is the movement reported to the IRS?
  • When does the financial institution have to verify transactions with the other institution?
  • What’s the difference between an IRA Transfer, an IRA Rollover and a Qualified Plan Rollover?
  • Moving money from a Traditional to a Roth or QP to a Roth – Conversion vs. Rollover?
  • What is a Recharacterizations between plan types?
  • Most importantly…How do we correctly code the transactions above to the IRS?
Exploring the IRA Universe - Part III
  • IRA Beneficiaries
    • Basic difference between primary and contingent beneficiaries
    • Naming an estate or trust as a beneficiary
  • IRA Distributions includes:
    • IRS penalty exceptions prior to age 59½ and the proper IRS coding
    • Required Annual Notifications for RMDs and Withholding
    • The NINE red flags of beneficiary payouts – including reporting pitfalls
    • Extensive discussion of beneficiary payout options – including spouse, nonspouse, estate and trust
    • Setting up the Inherited IRA and documentation requirements
Exploring the IRA Universe - Part IV
  • IRA forms to be kept on record by the financial institution and the accountholder’s required disclosures and forms
  • What are the IRA accountholder notices that must be sent out in a timely manner
  • How to audit the IRA department as far as expertise, form use, procedures and work flow
  • Line by line instructions on 5498 and 1099-R reporting – what’s required vs. what’s optional.
  • How and when to correct IRS reporting to avoid increased IRS fines to the financial institution
  • The most common errors hiding in your IRA customer files
  • Forms and tools for auditing your IRA files
  • 2017 IRA Cost of Living Adjustments

Who Should Attend?

Anyone who works with IRAs in any capacity will benefit from this webinar series.

"I have attended many of Patrice's live seminars, she is a great trainer and is so knowledgeable on the IRA products." -- Rhonda Prasifka, Citizens State Bank


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