Advanced IRAs

Course Number: Seminar

Course Code:

Advanced IRAs builds on the attendees’ basic IRA knowledge to address some of the
more complex IRA issues that their financial organizations may handle. This is an
advanced session; previous IRA knowledge is assumed. The instructor uses real-world
exercises to help participants apply information to job-related situations.

Course Topics May Include:

IRA Update
-Explain recent changes affecting IRA owners
-Discuss the current Roth modified adjusted gross income (MAGI) limits
-Recognize how recent changes may affect your financial organization

Required Minimum Distributions
-Calculate a required minimum distribution (RMD)
-Discuss the RMD rules and reporting requirements

Beneficiary Options
– Describe beneficiary distribution options
– Recognize the differences for spouse, nonspouse, and nonperson beneficiaries
– Explain beneficiary payment deadlines

Advanced Portability
– Summarize the restrictions on the movement between IRAs
– Recognize the options available when moving from an employer-sponsored
retirement plan to an IRA
– Explain the result of violating the portability restrictions

Roth IRA Conversion Contributions
– Describe a conversion
– Explain the effect of withholding on a conversion
– Report a conversion
– Define the consequences of an ineligible conversion

IRA Legal Issues
– Recognize power of attorney (POA) issues
– Identify and resolve abandoned property issues
– Determine the correct process for paying IRA fees
– Explain the process of handling assets as a result of divorce

SECURE Act provisions affecting IRAs
• More rapid payouts to non-spouse (and other) beneficiaries
• Delayed age for beginning RMDs
• Birth/adoption excise tax exception
• “Difficulty of Care” payments treated as eligible compensation for retirement plan
funding
• Traditional IRA contributions at any age
• Graduate student IRA contributions

FCAA provisions affecting IRAs
• Qualified disaster distributions

Audience: You should attend this seminar if you : an IRA administrator, personal banker, or member services personnel who has a working knowledge of basic IRA operations and wishes to expand your expertise and provide enhanced customer service; a financial professional who recognizes that IRAs play an integral role in retirement planning; a compliance specialist with procedural oversight of IRA policies and practices; or support personnel responsible for promotional materials that describe the services provided by your financial organization.

Prerequisites:

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Member Price: $395.00
Non-Member Price: $425.00
Textbook Charge: $0.00

Credits: 0.50

Length: 6 hours

ABA Training