2 Day IRA Seminar: Basic & Advanced Issues OnDemand with Live Streaming

Attend the 2 Day IRA Seminar: Basic & Advanced Issues from the convenience of your own office via Live Streaming Video as it happens on August 25th and 26th (9:00 am – 4:00 pm Central Time), or at your own convenience with 6 months of OnDemand playback

If I said "What a year!!!" that would be a huge understatement regarding all the world changes – including the IRA World! The SECURE Act that was signed into law at the end of 2019 became effective on January 1, 2020 bringing lots of changes to IRAs – some good and some not-so-good. Then "Covid-19" totally changed our "normal" to the "What the Heck???" In March 2020 the CARES Act was signed into law to give everyone financial relief due to the stock market going down and the unemployment going up.

While it may take years to build a confidence level where you can answer almost any question thrown your way, the goal of these two days is to raise your comfort level if you are a rookie and to reinforce your knowledge if you have a higher level of experience and catch you up on all the new changes. You will also receive your favorite "tool" - the 275-page 2020-2021 Sunwest Training Corp’s IRA Training and Reference Manual to download and print one copy per paid attendee - which is not only full of easy-to-follow IRA information, but also lots of "Cheat Sheets" and "Quick Reference Tools" to get you through your day-to-day tasks of dealing with your IRA customers.

This intensive 2-day live-streaming format will help you pull it all together by helping you learn the following:

  1. Understanding the Top 20 Basic Terms of IRAs.
  2. Next we will review the most commonly used forms to create and complete IRA transactions. 
    • Since this is not vendor-form-specific, please bring a copy of your bank’s IRA Application form, Contribution Form, Distribution Form and Rollover Review or Rollover Certification Form as well as any other forms you may have questions on.
  3. As the day goes on, you will pick up knowledge of the IRA plan types with changes, Traditional, Roth and SEP.
  4. On the second day of climbing, we will nail down the use of the proper terminology of "Rollover" vs. "Transfer" when moving money from an employer plan to an IRA and from an IRA to an IRA – and the consequences if we don’t know the difference.
  5. Health Savings Accounts – What’s our job and what’s the customer’s responsibility?
  6. NEW How to report late contributions for last year and repayments of money withdrawn due to Covid-related situations.
  7. And finally, you will better-learn and comprehend the complicated areas of IRA Distributions to owners and new payout options for IRA beneficiaries and IRS reporting for late rollovers and repayments, resulting in a better picture of this complicated topic.

Whether you are looking to gain basic knowledge of IRAs, raise your comfort level or sharpen your skills with the most up-to-date rules and regulations, this two day format will cover everything!

Covered Topics

The agenda for each day is as follows:

 Day 1:  IRA Basic Issues - Tuesday, August 25, 2020

  • IRA Terminology – Top 20 Terms
  • Explanation of IRA Forms (Not Forms Specific – (Please bring your own forms including Application, Contribution form, Distribution, Rollover Review or Certification and any other commonly used forms)
  • Beneficiary Designations including Primary and Contingent, Trusts and Estates
  • Qualifications, New 2020 Contribution Limits and other new regulations for a:
    • Traditional IRA
    • Roth and Conversion Roth
    • SEP IRAs contributions and IRS reporting

  Day 2:  IRA Advanced Issues - Wednesday, August 26, 2020

  • Updated legislative regulations on IRAs as the result of passed and enacted laws including the SECURE and CARES Act and the 2020 Cost of Living Adjustments
  • Health Savings Accounts – overview and clarifying responsibility
  • Qualified Plan Rollovers to a Traditional or Roth IRA – 6 Red Flags
    • Direct vs. Indirect
  • IRA to IRA Indirect Rollovers and Direct Transfers – Once-per-12-month rule clarifications and recent rules on 60 day exceptions and reporting
  • Distributions
    • Federal Income Tax Withholding
    • Before age 59½ - penalty exception coding
    • At age 70½ including mandatory notices – Waiver of 2020 RMDs
    • 9 Biggest Mistakes of IRA Beneficiary Payouts
    • Overview and Explanation of IRS Reporting Requirements

Each day can be purchased independently but for the most comprehensive understanding of the issues from A-Z, attending both days is recommended. You will receive a separate manual for the topics of each day's class.

IRA Basic Issues Seminar OnDemand with Live Streaming

IRA Advanced Issues Seminar OnDemand with Live Streaming

Who Should Attend?

New Account Representatives, Certificate of Deposit Personnel, Savings Counselors, Accountholder Service Representatives, Investment and Trust Personnel who are newly involved in the opening, selling, marketing, or administration of IRAs. Any officer/manager who "oversees" the IRA department and may be responsible for answering IRA accountholders questions or concerns but does not actually open IRA accounts. Experienced IRA Personnel who like a slower pace workshop to cover all the new changes in a comprehensive manner.

"Patrice Konarik is extremely knowledgeable regarding IRAs. She took complicated scenarios and explained in a simple, straightforward way why IRA transactions were processed a certain way and the consequences of doing them incorrectly. Her combination of humor and knowledge, made this training both informative and enjoyable. I would definitely recommend to anyone who is wanting to increase their IRA knowledge." -- Leslie Diaz, Relationship Banking Manager, Crossfirst Bank

"Patrice does a fantastic job with delivering information about IRAs. She does so in a manner that is easy to understand, easy to follow, and leaves you with a wealth of knowledge. I have attended this seminar before and find it extremely beneficial each time! Thank you!" - Kevin Eskew, Limestone Bank