IRAs: Rollover vs. Transfer

Part 2 of the IRA Series

Some of the most misused and abused terminology in the IRA merry-go-round world are the terms “rollover” vs. “transfer”. These are not words that can be used interchangeably. If the term is not used correctly and indicated on the contribution form correctly and reported to the IRS correctly, it can trigger unwarranted bills from the IRS to the client showing many dollars in taxes owed.

As you can see below, this is a jam-packed informational Webinar.

Covered Topics

  • Why is it important to QUALIFY the money coming into the credit union?
  • What are the three questions that should be verified?
  • 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 credit union 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?
  • Most importantly…How are the transactions above reported to the IRS?

This is Part II of a four-part series. You can attend all the sessions to obtain the most comprehensive information or any part in the series independently.

You are encouraged to have a sample of the IRA forms your financial institution is currently using for your review during the session including: IRA Contribution forms, Distribution Forms and Rollover Review/Certification Forms.

Who Should Attend?

This is a “must-attend” Webinar for anyone - even remotely - involved in IRAs including, frontline, back office, call center, investment department, and member services personnel.