IRA Essentials, facilitated by Ascensus, gives attendees a solid foundation of IRA knowledge. Exercises are included throughout the day to help participants apply information to job-related situations. Attendees will leave this session able to work with IRA owners and process basic IRA transactions with confidence. This is a beginner’s session; no previous IRA knowledge is assumed. Attendees should have access to a hand-held calculator.
Introduction and Establishing IRAs
• Identify the tax advantages of Traditional and Roth IRAs
• Summarize the IRA opening document requirements
• Explain the difference between primary and contingent beneficiaries
• Compare and contrast Traditional and Roth IRA eligibility requirements
• Explain the regular contribution limit
• Distinguish the regular contribution deadline
• State the rules for prior-year contributions
• Communicate the regular contribution reporting deadlines
• Identify federal income tax withholding requirements
• Recognize the exceptions to the early distribution penalty tax
• Summarize the tax consequences of Traditional and Roth IRA distributions
• Define a required minimum distribution and the required beginning date
• Communicate the distribution reporting deadlines
• Differentiate between a rollover and a transfer
• Recognize rollovers between IRAs and employer- sponsored retirement plan
ABA Professional Certification - 7.25 credits for CISP, CRSP, and CTFA
You should attend this seminar if you need to learn the basics of Traditional and Roth IRAs or want an updated, general refresher on IRA rules.
Per Person Fee
Clients of Ascensus qualify for the IBA member rate.