IRA Essentials
IRA Essentials 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 bring a hand-held calculator.
Course Topics May Include:
Introduction and Establishing IRAs
- Identify the tax differences of a Traditional and Roth IRA
- Examine the process for establishing an IRA and the required documents
- Differentiate between the types of beneficiaries
IRA Funding
- Learn about the Traditional and Roth IRA eligibility requirements
- Identify the contribution limit and deadline
- Communicate contribution reporting deadlines
IRA Distributions
- Identify federal income tax withholding requirements
- Examine IRS penalties and penalty exceptions
- Summarize the tax consequences of IRA distributions
- Communicate distribution reporting deadlines
IRA Portability
- Differentiate between a rollover and a transfer
- Recognize rollovers between IRAs and employer- sponsored retirement plans
Who Should Attend?
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.
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