IRAs: Rollovers vs. Transfer

Part II - Qualified Plan and IRA Rollovers vs Transfers

As we continue our journey down the mountain, we come to the most abused terminology in IRAs. Everyone knows you can only do one rollover from your total IRA plans in a 12 month period – right? But what does that once-per-12-month rule apply to – IRA rollovers? QP Rollovers? Conversions? As you can see below, this is a jam-packed informational Webinar.

Covered Topics

  • 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 the new change regarding recharacterizations?
  • Most importantly…How do we correctly code the transactions above to the IRS?

This is Part II of a four-part series. You can attend all the sessions to obtain the most comprehensive information or any part in the series independently.

You are encouraged to have a sample of the IRA forms your bank is currently using for your review during the session including: IRA Contribution forms, Distribution Forms and Rollover Review/Certification Forms.

Who Should Attend?

This is the Part II in a four-part series and is a “must-attend” Webinar for anyone - even remotely - involved in IRAs including, frontline, back office, call center, investment department, and trust department personnel.

"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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