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IRAs: Beyond the Basics - All-Day Streaming

Now that we have tackled the IRA Basics, it’s time to delve into the more complicated aspects of IRA administration. These are the areas that may trigger an IRA letter and tax bill to the accountholder if the transactions are not reported correctly. This session will also explain in detail the payout options to beneficiaries according to the new rules finalized last year.

OnDemand
DATE

Recorded Wednesday,
August 13, 2025

INSTRUCTOR

Patrice Konarik

DURATION

7 Hours

FORMAT

Live Stream OnDemand

CREDIT TYPE

7 CISP Credits

$849.00 or 5 Tokens

Includes: 12 months of OnDemand playback access

  • Compliance
  • Customer Service
  • Deposit
  • Deposit Accounts
  • IRAs
  • Reporting
  • Teller
  • Transaction Compliance
  • Trusts
  • Compliance Officer
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • Internal Auditor
  • New Accounts Representative
  • Private Banker
  • Teller
  • Training Manager
  • Trainer
  • Trust Officer

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One of the biggest sources of IRA confusion is how to code previous QP or IRA retirement money when it arrives at your institution. While the “rollover” vs. “transfer” terminology may seem like a no-brainer, it is actually the main reason customers/clients receive unnecessary letters and bills from the IRS. It’s all about the reporting!

In the last five years, the IRS has changed the age to begin Required Minimum Distributions from IRAs twice: confusing bankers and customers alike. The SECURE Act 2020, the Proposed Regulations of 2022 that were finalized in July 2024, and the SECURE Act 2.0 are the sources of this misunderstanding of the latest rules. We will answer the biggest question: Do beneficiaries have to take annual distributions and how do we calculate them now that the rules have changed?

Whether you attend day 1, day 2, or both days, you will gain a sense of confidence when it comes to understanding and processing IRA transactions. If you attend either day, you will be provided an electronic copy of the full “IRA Training and Reference Manual” (aka the “Red Book”), which will be referenced throughout the class.

We highly recommend you have this available during the training session to follow along and find the information as needed after the class. There are plenty of cheat-sheets (or quick reference charts) contained in the book to use as aids. This same book will be used for both days.

What You'll Learn

  • What is the difference between a QP direct rollover and an IRA transfer?
  • What are the rules for rolling over a 529 plan to a Roth IRA?
  • When do we use the “rollover” term from IRA to IRA?
  • What are the new exceptions to the 10% penalty for IRA distributions taken prior to age 59.5 and how do we report them?
  • When the IRA owner died after 2019 and was in RMD status, does the beneficiary still get to take optional distributions the first nine years?
  • What are the nine red flags of beneficiary payouts?
  • What are the options for paying out to a trust beneficiary?

Who Should Attend

All IRA personnel, including CSRs, tellers, and branch managers who answer IRA questions for their customers, call center employees, as well as trust and investment officers will greatly benefit from these intensive topics. Also, anyone responsible for training employees on IRAs is encouraged to attend both days.

Patrice Konarik

Instructor Bio

Patrice M Konarik is president of Sunwest Training Corp founded almost 30 years ago and located in the Texas Hill Country near San Antonio. With over 40 years of experience in the financial industry, Patrice has focused her expertise on the retirement account area. After 28 years on the road providing live training nationwide, she now concentrates on providing informational IRA and HSA webinars through OnCourse Learning. She has a B.S. in Management Science from New York’s Binghamton University and previously held her Certified Financial Planner designation for 23 years.

Continuing Education Credit Information

IRAs: Beyond the Basics - All-Day Streaming has been approved for 7 CISP credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.

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