Advanced IRAs

Advanced IRAs builds on the attendees’ basic knowledge to address more complex IRA issues their financial organizations may handle.  This is an advanced session; previous IRA knowledge is assumed.  The instructor uses real-world exercises to help participants apply information to job-related situations.

IRA Update

• Explain the recent changes affecting IRA owners.
• Discuss the current Roth modified adjusted growth income limits.
• Recognize how recent changes may affect your financial organization.  

Required Minimum Distributions

• Calculate a required minimum distribution (RMD).
• Discuss the RMD rules and reporting requirements. 

Beneficiary Options       

• Describe beneficiary distribution options.
• Recognize the differences for spouse, nonspouse, and nonperson beneficiaries.
• Explain beneficiary payment deadlines. 

Advanced Portability

• Summarize the restrictions on the movement between IRAs.
• Recognize the options available when moving from an employer-sponsored retirement plan to an IRA.
• Explain the result of violating the portability restrictions.
• Roth IRA Conversion Contributions
• Describe a conversion.
• Explain the effect of withholding on a conversion.
• Report a conversion.
• Define the consequences of an ineligible conversion. 

IRA Challenge

• Determine whether common industry views on various IRA topics are true.