If you are not a KBA member, please contact Jamie Hampton at jhampton@kybanks.com for the possibility of attending at a non-member rate.
Online registrations are followed up with an email confirmation. Once an online registration is started you must click proceed to check-out and then click submit to finalize the registration. Registrants can view events they are registered for by using the MyKBA link on https://www.kybanks.com. 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. Regulatory Changes • Discuss the upcoming IRA amendment date • Describe 529 plan-to-Roth IRA rollovers • Explain the rules for Roth simplified employee pension (SEP) IRAs and Roth savings incentive match plan for Employees of small employers (SIMPLE) IRAs • Recognize the increased contribution limits for SIMPLE IRA plans • Understand the new early distribution penalty tax exceptions created by SECURE 2.0 • Discuss the new electronic reporting requirements Required Minimum Distributions • Calculate a required minimum distribution (RMD) • Discuss the RMD rules • Explain the RMD reporting requirements
Beneficiary Options • Describe beneficiary distribution options when an IRA owner dies on or after January 1, 2020 • Recognize the differences for the various beneficiary types Advanced Portability • Identify the types of plan assets that are eligible for rollover • Compare the difference between retirement plan rollovers to Traditional and Roth IRAs • Explain the result of violating the portability rules • Understand a Roth IRA conversion IRA Excess Contributions • Define an excess contribution • Identify excess contribution correction methods • Describe a recharacterization • Calculate net income attributable (NIA) • Explain the possible taxes and penalty taxes for excess contributions • Describe reporting for excess contribution and recharacterizations Who Should Attend You should attend this seminar if you are • an IRA administrator, personal banker, or member services personnel who has a working knowledge of basic IRA operations and are looking to expand your expertise and provide enhanced customer service; • a financial professional who recognizes that IRAs play an integral role in retirement planning; • a compliance specialist with procedural oversight of IRA policies and practices; or • support personnel responsible for promotional materials that describe the services provided by your financial organization.