Advanced IRAs
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
Who Should Attend?
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.
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