IRAs Part 2 - QP and IRA Rollovers vs. Transfers

IRAs Part 2 - QP and IRA Rollovers vs. Transfers

IRAs Part 2 - QP and IRA Rollovers vs. Transfers

Thursday, September 17, 2020 
11:00 am – 1:00 pm Eastern

Qualify the Money! The questions that need to be asked are:

  1. "What plan type is it coming from?"
  2. "What plan type is it going to?"
  3.  "Can the customer use the funds between Point A and Point B?"

The answers to these 3 questions will put you on the right path to your IRS reporting. And, it's ALL about the reporting when it comes to IRAs. By not knowing the difference of how retirement money moves between the custodians and trustees, the bank coding and IRS reporting may not match. This results in needless letters and bills received by the customers from the IRS because they can't figure out what happened.

Topics Covered:

  • What is the IRS definition of an IRA for rollover qualification purposes?
  • What happens if an IRA account owner exceeds the once-per-12-month rule?
  • What are the exceptions for the 60-day time period where the customer can “self-certify” the rollover is still allowed?
  • 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?
  • When does the financial institution have to verify transactions with the other institution?
  • 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. While attending one part of the webinar series may help, attending all four parts will give you the most comprehensive breakdown of the rules and regulations.

Who Should Attend?   

This is a “must-attend” webinar for anyone - even remotely - involved in IRAs including, frontline, back-office operations, call center, investment department, and trust department personnel.

Instructor

Patrice M. Konarik

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.

Attendance verification for CE credits provided upon request.

Webinar Sponsored by Total Training Solutions

If you are having issues with registering online, please contact CBAO's Education, Training & Special Event Coordinator, Patti Webb, (614) 610-1877.

Registration Options

Live Plus Five – Attend the live event and receive five business days of unlimited access to the OnDemand Playback and links to presenter materials and supplementary handouts.

Live Plus Five (Additional Hookup) – Registering another banker from a different location for Live Plus Five.

OnDemand Recording – Receive unlimited access to the OnDemand Playback for 6 months and links to presenter materials and supplementary handouts. This option does not include live session attendance.

CD-ROM – Receive the webinar recording on a CD-ROM 7-10 business days after the Live event or your registration date (whichever is the latter). Receive unlimited access to the OnDemand Playback for 6 months and links to presenter materials and supplementary handouts. This option does not include live session attendance.

Live Plus Six – Attend the live event and receive six months of unlimited access to the OnDemand Playback and links to presenter materials and supplementary handouts.

Premier Package – Includes all three base options. Live attendance, OnDemand Playback for six months, and the CD-ROM.

When
9/17/2020

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