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IRAs Part 2: Rollovers vs. Transfer

Attend this program to understand the difference between rollovers and transfers.

OnDemand
Recorded Friday,
September 10th, 2021
Presented by Patrice Konarik
1h 30m total length
2 CEU Credits
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • IRAs
  • Branch Manager
  • Compliance Officer
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • Internal Auditor
  • New Accounts Representative
  • Teller
  • Trainer

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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.

What You'll Learn

  • Why is it important to QUALIFY the money coming into the financial institution? 
  • What are the three questions that should be verified?
  • What is the IRS definition of an IRA for rollover qualification purposes?
  • 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?
  • 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 two 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.

Learn caption

This is a “must-attend” webinar for anyone - even remotely - involved in IRAs including, frontline member services reps, back office operations, compliance and call center reps.

Patrice Konarik

Instructor Bio

Patrice M. Konarik is president of Sunwest Training Corp. founded over 25 years ago and is located in the Texas Hill Country near San Antonio, Texas. With over 35 years in the financial industry, Patrice has focused her expertise on the retirement account area and is currently providing live training and Webinars on IRAs and Health Savings Accounts on a nationwide basis. She has a BS in Management Science from New York’s Binghamton University. Many state banking associations and other organizations use her as their main source for training on these complicated topics.

Continuing Education Credit Information

Recommended for 2 CEU Credit Hours. After attending this webinar, each attendee can receive a Certificate of Attendance for self-reporting of CEU Credits.

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