Summary - IRA Basics & Advanced IRA Issues

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.

Day 1 of this two-day seminar teaches 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.

Day 2 will tackle issues and complications in depth. We will discuss 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.*

Day One – IRA Basics

Introduction to IRAs
Types of IRAs
Traditional IRA
Roth IRA
Overview of SEP & SIMPLE IRAs
Establishing an IRA
Documentation Requirements
Eligibility and Contributions
Distributions and Withdrawals
RMD Overview
Roth IRA Rules
Beneficiaries and Inheritance Basics
Overview of Transfers and Rollovers
Overview of Health Savings Accounts
Overview of Coverdell Education Savings Accounts

Day Two – Advanced IRA Issues

Review of IRA Basics
Complex Contribution Issues
Excess Contributions
Recharacterizations
Catch-up Contributions
Advanced Distribution Rules
Detailed RMD Calculations
SECURE & SECURE 2.0 Impact
Roth IRA Ordering Rules and 5-year Clock Nuances
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

Whether you are looking to gain basic knowledge of IRAs, raise your comfort level, or sharpen 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