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Sunwest Training Corp. presents:

Understanding the SECURE ACT of 2020
in

Yes, it's finally here. After a year of deliberations, the SECURE Act was signed into law under the Appropriations Act on December 20, 2019. Most of the provisions are in effect on January 1, 2020. These are the most substantial changes we've had to IRAs in almost 15 years. There are too many issues and too many potential pitfalls financial institutions will experience if they don't have a working knowledge of these changes. Forms will be changed, IRA software must be updated which may take a while. Because of this, you may have to do some "manual" notices to your IRA client base to make sure these time-sensitive changes are implemented.

In the IRA Basic class on Day 1, you may be thinking, I don't even know the old rules to know what the new changes are. Unfortunately, you will need to know the old and the new rules because most of the IRA rules prior to 1/1/2020 are "grandfathered". But don't worry, you will have the totally updated IRA "Red" Book Training manual with lots of "cheat sheets" to show you the "before" and "after"

In the IRA Advanced Day 2, we will summarize the changes and then actually get into the nitty-gritty of new distribution regulations to owners and beneficiaries - what stays the same and what changes? How do we disclose all these changes to our customers?

This intensive 2-day format will help you pull it all together by helping you learn the following:

Understanding the Top 20 Basic Terms of IRAs.
Next we will review the most commonly used forms to create and complete IRA transactions. (Since this is not vendor-form-specific, please bring a copy of your bank's IRA Application form, Contribution Form, Distribution Form and Rollover Review or Rollover Certification Form as well as any other forms you may have questions on.)
As the day goes on, you will pick up knowledge of the IRA plan types, Traditional, Roth and SEP.
On the second day of our journey, we will nail down the use of the proper terminology of "Rollover" vs. "Transfer" when moving money from an employer plan to an IRA and from an IRA to an IRA – and the consequences if we don't know the difference.
Health Savings Accounts – What's our job and what's the customer's responsibility?
And finally, you will better-learn and comprehend the complicated areas of IRA Distributions to owners and beneficiaries and IRS reporting, resulting in a better picture of this confusing topic incorporating the new rules as part of the SECURE Act of 2020.

Whether you are looking to gain basic knowledge of IRAs, raise your comfort level or sharpen your skills with the most up-to-date rules and regulations, this two day format will cover everything! The newly revised full 275-page IRA Manual will be provided to you whether you attend the IRA Basics, IRA Advanced or both days.

The agenda for each day is as follows:

Day 1: IRA Basic Issues

IRA Terminology – Top 20 Terms
Explanation of IRA Forms - Not Forms Specific – (Please bring your own forms including Application, Contribution form, Distribution, Rollover Review or Certification and any other commonly used forms)
Beneficiary Designations including Primary and Contingent, Trusts and Estates
Qualifications, 2019/2020 Contribution, Income Phase-out limits, Age Limits and other new regulations for a:
Traditional IRA
Roth and Conversion Roth
SEP IRAs contributions and IRS reporting

Day 2: IRA Intermediate/Advanced Issues

Updated legislative regulations on IRAs as the result of the SECURE Act and the 2019/2020 Cost of Living Adjustments
Health Savings Accounts – overview and clarifying responsibility
Qualified Plan Rollovers to a Traditional or Roth IRA – 6 Red Flags
Direct vs. Indirect
IRA to IRA Indirect Rollovers and Direct Transfers – Once-per-12-month rule clarifications and recent rules on 60 day exceptions and reporting
Distributions

Federal Income Tax Withholding
Before age 59½
At age 70½ before 2020 and 72 beginning in 2020 – including a change in mandatory notices
9 Biggest Mistakes of IRA Beneficiary Payouts
Rules on new nonspouse beneficiary payout requirements beginning in 2020
Overview and Explanation of IRS Reporting Requirements

Each day can be attended independently but for the most comprehensive understanding of the issues from A-Z, attending both days is recommended. The same book will be used for both days.

Who Should Attend?
Everyone even remotely involved in IRAs at your financial institution including: New Account Representatives, Certificate of Deposit Personnel, Savings Counselors, Accountholder Service Representatives, Investment and Trust Personnel who need this update and are involved in the opening, selling, marketing, or administration of IRAs. Any officer/manager who "oversees" the IRA department and may be responsible for answering IRA accountholders questions or concerns but does not actually open IRA accounts. Experienced IRA Personnel who like a slower pace workshop to cover all the new changes in a comprehensive manner.

Seminar Instructor
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.

Registration Price:
Register by Feb. 3, 2020, for the early-bird registration price of $250 per person per day. On or after Feb. 4, the registration price is $275 per person per day.

The speaker recommends attending both days, but you can register for one day or the other.

Get directions to the venue by clicking here.

Hotel Information: The GBA has a discounted room rate of $122-$130 per night with the Hampton Inn & Suites Macon I-475. Attendees will need to call and speak directly with the hotel to book.

Hampton Inn & Suites Macon I-475
5010 Eisenhower Pkwy, Macon, GA 31206
478.803.4900

Cancellation Policy:
Due to facility guarantees, written cancellations must be received one week prior to the seminar date to receive a refund. Substitutions are always welcome.

Questions? Please contact Jenna Lynn Warner by email or at 404.420.2035.

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