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IRAs: Achieving a Working Knowledge from Start to Finish - 4 Part Series

Everything you need to know about IRAs in a four-part webinar series.

OnDemand
September 5, 2024
September 12, 2024
October 10, 2024
October 17, 2024
Presented by Patrice Konarik
2h total length
$1,129.00 or 4 Tokens

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Accounting/Reporting
  • Auditing
  • Customer Service
  • Deposit
  • Deposit Accounts
  • General Compliance
  • IRAs
  • Reporting
  • Teller
  • Trusts
  • Branch Manager
  • Compliance Officer
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • Internal Auditor
  • New Accounts Representative
  • Private Banker
  • Teller
  • Training Manager
  • Trainer
  • Trust Officer

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This four-part series includes the following webinars. Click the dropdowns below for a complete description of what will be covered in each session. Each webinar can also be purchased individually.

Series Details

IRAs From Start to Finish - Part 1: Building the Foundation

Welcome to the world of IRAs. In truth, these retirement accounts can be one of the most challenging products offered. It seems like there are so many rules to follow - and they constantly change. How can we keep up?

  • What is the difference between an IRA Plan and an IRA Account?
  • What forms are required to establish a legal IRA and which forms are supplemental?
  • What are the benefits of a Traditional IRA and when can the contribution be deductible?
  • Why would many people choose a Roth IRA over a Traditional IRA?
  • Who can make contributions to a SEP IRA and how are they reported to the IRS?
  • Why is it so important to use the correct transaction description for IRA activity?

IRAs From Start to Finish - Part 2: Rollovers and Transfers

So you think you know the difference between an IRA Rollover vs. IRA Transfer vs. QP Direct and Indirect Rollover? The “rollover” and “transfer” words are two of the most misused and abused terms in the IRA world. Not knowing the difference leads to misreporting to the IRS - which can result in unnecessary letters and bills to the customers.

  • What are the rules of moving money from IRA to IRA as a “rollover?”
  • Why are IRA transfers and Qualified Plan direct rollovers often confused?
  • What kind of IRS reporting is generated on an IRA to IRA transfer?
  • What is a “Rollover IRA” and how do we move it to another institution?
  • What happens if the 60-day rule is not followed?
  • How many tax-free IRA rollovers can a customer take advantage of in a 12-month period?"

IRAs From Start to Finish - Part 3: Distributions to Owners and Beneficiaries

IRA Distributions to owners and beneficiaries will make even the most seasoned IRA expert a little insecure. Just when you think you’ve got it, they change it. The last four years have produced the most substantial changes to IRAs in over 20 years. What's the latest?

  • When are we required to have the customer sign a W-4R Federal Withholding Election?
  • What is the difference between a Required Beginning Year (RBY) and a Required Beginning Date (RBD)?
  • What are the required notices we must produce when a customer is in RMD status?
  • What is a Qualified Charitable Distribution and how is it reported to the IRS?
  • What are the three categories of beneficiaries to determine payout options available?
  • How do we report payments to beneficiaries to the IRS?
  • What are nine red flags of beneficiary payouts?
  • When do beneficiaries have to begin payout the year after the owner’s death?
  • What is a “successor beneficiary” and what payout options do they have?

IRAs From Start to Finish - Part 4: Successfully Auditing Your IRA Files

This is the job that everyone avoids - auditing the IRA files for necessary paperwork and getting rid of the “junk.” But what paperwork and documents are required to be in the file, and which can be thrown away? This two-hour webinar will answer these questions and many more.

  • What are the legal requirements for documentation to be maintained in your IRA files?
  • When opening a new IRA plan, what forms do we keep and which forms must be given to the customer?
  • What happens when there is no beneficiary designation in the file or the beneficiary is deceased?
  • What are the requirements for IRS reporting and disclosures to the customer?
  • How far back can the institution go to file an IRS correction - if it’s the institution’s fault or if it’s the customer’s fault?
  • What kind of partial IRA audits are the most crucial?
  • How do we file paper corrections to the IRS?

What You'll Learn

Each webinar in the series will cover specific topics relative to the subject matter.

Who Should Attend

Any employee who is new to the institution or customer service area and needs to learn the very basic rules and regulations of IRA should attend. In addition, any experienced IRA employees who would like a 'refresher' on the latest ever-changing rules and regulations of IRA would also benefit from this informational webinar.

Patrice Konarik

Instructor Bio

Patrice M Konarik is president of Sunwest Training Corp founded almost 30 years ago and located in the Texas Hill Country near San Antonio. With over 40 years of experience in the financial industry, Patrice has focused her expertise on the retirement account area. After 28 years on the road providing live training nationwide, she now concentrates on providing informational IRA and HSA webinars through OnCourse Learning. She has a B.S. in Management Science from New York’s Binghamton University and previously held her Certified Financial Planner designation for 23 years.

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