IRAs Part 1 - The Basics 2023

We will break down the essential rules and forms of IRA accounts. Discussing the difference between an IRA 'plan' vs. an IRA 'account' and the types of IRA products will get you on your way to building the foundation of knowledge for these often complicated accounts.

Recorded Thursday,
September 14th, 2023
Presented by Patrice Konarik
2h total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

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

Save on annual training costs with our Webinar Subscription Service and share webinars across your entire organization.

Become a subscriber

Learn about upcoming events, webinars and discounts.

Sign Up For Email Notifications

For series pricing, click here.

The IRA Basics will kick off with a review of the most common IRA terminology and how it effects IRA reporting the IRS. We will then review the forms used to establish a plan for a new customer vs. supplemental forms for existing IRA customers.

Next, we compare the plan types such as a Traditional IRA, Roth IRA and SEP IRA by discussing A-Z the rules and regulations on contribution limits, tax deductions, type of interest earned and distribution requirements.

What You'll Learn

  • When do we have to open a new set of plan documents for existing IRA customers and when do we use just supplemental forms?
  • What are the disclosures an IRA customer must receive when opening a new plan?
  • What are the new contributions limits for Traditional and Roth IRAs?
  • When can a customer deduct an IRA contribution and how does it affect our IRS reporting?
  • When is the interest really tax-free on a Roth IRA?
  • When do mandatory distributions start from a Traditional IRA?
  • How can the customer move their Traditional IRA to a Roth IRA and what are the tax consequences?"

Who Should Attend

Any employee who is new to the bank 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.