IRA Advanced

Advanced IRAs builds on the attendees’ basic IRA knowledge to address some of the more complex IRA issues that their financial organizations may handle. This is an advanced session; previous IRA knowledge is assumed. The instructor uses real-world exercises to help participants apply information to job-related situations.

Course Topics May Include

IRA Update

• Explain recent changes affecting IRA owners
• Discuss the current Roth modified adjusted gross income (MAGI) limits
• Recognize how recent changes may affect your financial organizationRequired Minimum Distributions

• Calculate a required minimum distribution (RMD)
• Discuss the RMD rules and reporting requirementsBeneficiary Options

• Describe beneficiary distribution options
• Recognize the differences for spouse, nonspouse, and nonperson beneficiaries
• Explain beneficiary payment deadlinesAdvanced Portability

• Summarize the restrictions on the movement between IRAs
• Recognize the options available when moving from an employer-sponsored retirement plan to an IRA
• Explain the result of violating the portability restrictionsRoth IRA Conversion Contributions

• Describe a conversion
• Explain the effect of withholding on a conversion
• Report a conversion
• Define the consequences of an ineligible conversion