The IRA Merry-Go-Round: IRA Basic and Advanced Issues

Have you ever noticed sometimes when the IRA Guru leaves the financial institution it is without notice or training for a replacement? On the first day of training, you feel like someone placed you on a crazy merry-go-round you can't jump off of. In other words, you have no idea where to go or what they are talking about. Everything just sounds foreign to you. It's true. IRAs are a different world from the other accounts at your bank. They may look similar, but the rules, regulations and IRS reporting build the complications to the point where you feel like you are on falling off of a cliff!! And, just when you finally find your footing, they change the rules again!

While it may take years to build a confidence level where you can answer almost any question thrown your way, the goal of these two days is to raise your comfort level if you are a rookie and to reinforce your knowledge if you have a higher level of experience. You will also receive your favorite "tool" – the 275-page 2019-2020 Sunwest Training Corp's IRA Training and Reference Manual - which is not only full of easy-to-follow IRA information but also lots of cheat sheets and quick reference tools to get you through your day-to-day tasks of dealing with your IRA 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.
3. 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 ride, 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?
NEW How to report "late" or "tardy" rollovers on the 2019 5498.
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 complicated topic.

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.

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 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, New 2019 contribution 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 passed and enacted laws and the 2019 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 including mandatory notices
9 biggest mistakes of IRA Beneficiary Payouts
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?

New Account Representatives, Certificate of Deposit Personnel, Savings Counselors, Accountholder Service Representatives, Investment and Trust Personnel who are NEWLY 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, including experienced IRA Personnel who like a slower pace workshop.

You are encouraged to bring a sample of the IRA Application, contribution, and distribution forms, and the Rollover Review or Certification Form your financial institution is currently using for your review during the session.

Seminar Instructor

Patrice M. Konarik is president of Sunwest Training Corp. founded 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 HSAs 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 this complicated topic. Patrice is very approachable and encourages attendees to ask questions during the seminars.

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

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.

Calendar of Events // <![CDATA[ _spBodyOnLoadFunctionNames.push("setupPageDescriptionCallout"); // ]]>

Meeting Number

Event Title

Start Date

End Date

Place

Event Details

Event Type

Delivery Channel

Focus Area

Registration Link

Self Paced?

Start Month

End Month

Attachments

Calendar of Events