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 beneficiariesIRA Funding

• Learn about the Traditional and Roth IRA eligibility requirements
• Identify the contribution limit and deadline
• Communicate contribution reporting deadlinesWho 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.

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