Part 1 - Introduction to IRAs - Tuesday, January 24th, 2017
Covered TopicsIntroduction to IRAs
- Describe and list the tax benefits of an IRA
- Recognize types of annual contributions
- Explain contribution eligibility and the deadline to make an annual contribution
- Identify the methods of moving assets between IRAs and between employer-sponsored retirement plans and IRAs
- State the early distribution penalty tax exemptions
- Differentiate between rollovers and transfers
- Compare direct and indirect rollovers between IRAs and employer-sponsored retirement plans
- Understand how to accurately document transfers and rollovers
- Discuss how rollovers are reported to the account owner and to the IRS
- Discuss the most current top issues surrounding IRAs that financial organizations frequently encounter
- Understand the requirements, restrictions, and tax implications of completing a "backdoor Roth" conversion
- Evaluate succession planning for your IRA program
- Identify the opportunities for clients who are rolling over a mix of pretax and after-tax money from their 401(k) plans
- Examine advanced reporting issues, including worthless assets
- Explain the particulars and debunk the common misconceptions of the one-per-12-month rollover rule
Who Should Attend?
Those responsible for IRA compliance or operations at their financial organization will benefit from these programs.
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