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.
IRAs: The Basics (Plan Types and Forms) - Thursday, October 20th
If you want to "jump start" your IRA knowledge base, this two-hour webinar is a good place to begin.
IRAs: Beyond the Basics (Rollovers and Transfers) - Thursday, October 27th
Learn about important recent changes to the world of IRA Rollovers.
IRAs: Way Beyond the Basics (Beneficiaries and Distributions) - Thursday, December 1st
If you're searching for a webinar that will help you achieve that higher "comfort level" on these complicated topics, this seminar is "must-attend".
IRA Audit and Compliance - Friday, December 9th
If you don't want to write checks to the IRS for filing errors, this webinar is a "must attend"!
- IRAs: The Basics
- 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
- IRAs: Beyond the Basics
- 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 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 Recharacterization between plan types?
- How do you correctly code the above transactions to the IRS?
- IRAs: Way Beyond the Basics
- Basic difference between primary and contingent beneficiaries
- Naming an estate or trust as a beneficiary
- IRS penalty exceptions prior to age 59 1/2 and the proper IRS coding
- Required Annual Notifications for RMDs and withholding
- Manually calculating distributions to accountholders age 70 1/2 and older
- Extensive discussion of beneficiary payout options - including spouse, nonspouse, estate and trust
- Setting up the Inherited IRA and documentation requirements
- IRA Audit and Compliance
- IRA forms to be kept on record by your 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 your IRA department for 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 your financial institution.
- The most common errors hiding in your IRA customer files.
- Forms and tools for auditing your IRA files.
- 2016 IRA Cost of Living Adjustments.
Who Should Attend?
Anyone who works with IRAs in any capacity will benefit from this webinar series.
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