Education & Events

IRAs: The Basics & Advanced

Date: 
Feb 13, 2019 to Feb 14, 2019
IBA Center for Professional Development
8425 Woodfield Crossing Blvd, Suite 155E
Indianapolis
IN
46240
Program Overview: 

PDF Brochure

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 dropped you on the top of a mountain and told you to find your own way down.  In other words, you have NO IDEA where to go or what they are talking about.  Everything just sounds alien to you.  It’s true.  IRAs are a different world from the other accounts at your bank.  Oh, 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 250-page 2018-2019 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.

Topics: 

SOLD OUT - 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 the Tax Cuts and Jobs Act that was passed in December of 2017 and all 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

There will be a review at the end of each day’s class.

 


 

Speaker: 

Patrice M. Konarik is president and founder of Sunwest Training Corp. located in the Texas Hill Country near San Antonio. With over 30 years’ experience in the financial industry, Patrice has focused her expertise on the retirement and new account areas.  In almost 16 states, Patrice is considered the top resource for live IRA training seminars and Webinars for thousands of bank employees each year. She has a BS in Management from New York’s Binghamton University.  Patrice has a “down-to-earth”, humorous training style and encourages interaction during the training sessions. 

 

Agenda: 

8:30 a.m. Registration & Continental Breakfast
9:00 a.m. Program Begins
12:00 Noon Lunch (included)
1:00 p.m. Program Resumes
4:00 p.m. Program Adjourns

The schedule will be the same for both days.

Location: 

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.  Experienced IRA Personnel who like a slower pace workshop to cover all the new changes in a comprehensive manner.

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.

 

 

 

Fees: 

The following fees include the program, training materials, continental breakfast, lunch & refreshments:

IBA Members
$425 for Both Days
$225 IRA Basics Only
$225 Advanced IRAs Only

NonMembers
$850 for Both Days
$450 IRA Basics Only
$450 Advanced IRAs Only 

Participation in IBA programs is limited to members, associate members, and nonmembers from an eligible membership category at applicable member or non-member rates.

Additional Information: 

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

  1. Understanding the Top 20 Basic Terms of IRAs.
  2. 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).
  3. As the day goes on, you will pick up knowledge of the IRA plan types, Traditional, Roth and SEP.
  4. As we go into the second day, 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. IRA to IRA Rollover rules had big changes effective 2015 and some people just don’t “get it”!!
  5. NEW How to report “late” or “tardy” rollovers on the IRS form 5498.
  6. Finally, as the trip is completed, you will master the complicated areas of IRA Distributions to owners and beneficiaries and IRS reporting, resulting in a better picture of this complicated topic.

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! 

 

Association Contact: 

If you have any questions please contact Marcy Borden at 317-387-9380 or via e-mail at mborden@indianabankers.org.

Cancellation Policy: 

Within three or more business days prior to the day of an educational program, no cancellation charge will be assessed. Within two days prior, 50% of the fee is assessed. Refunds are not provided for cancellations the day before or absences on the day of the program. Substitutions are welcome at anytime.

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