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
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