IRA Series

On July 18, 2024, the Treasury Department and IRS issued highly anticipated final required minimum distribution (RMD) regulations. The 260 pages of regulatory guidance confirms numerous IRS positions in the previously published proposed RMD regulations, provides greater clarity on a range of RMD topics, and reflects IRS changes or clarifications made in response to extensive industry feedback and private letter ruling requests. Given the 1/1/25 effective date, you have your work cut out for you as you review current policies and procedures to identify changes that must be implemented to comply with the final regulations. This webinar will also address areas where you may be at a bit of a crossroads in determining your future service model given changes in financial institution requirements.

The IRA rules are always changing, but it's been some time since the industry has had to adapt to so many changes, so quickly, for so many aspects of IRA servicing and administration. It’s harder than ever to differentiate the current rules from legacy rules, and what applies when. This session will wade through the latest and most imminent issues IRA and HSA providers face and prioritize your focus to help keep you compliant and sane. It will work through the amazing savings potential of HSAs, but also address the very real challenges these accounts present. In addition, there’ll be time to address your pressing questions.

First there was the SECURE Act of 2019, then proposed RMD regulations, then SECURE Act 2.0, and now final RMD regulations – it’s a lot to keep track of! Effective 1/1/25, the final RMD regulations changed beneficiary distribution options and compliance considerations considerably. These changes necessitate review - and very likely revisions - of your organization's standing policies and procedures. This course will cover the changes you can make, the changes you should make, and the changes you must make to ensure you remain both in compliance, and best positioned to provide top-notch service to your inherited IRA holders. With old rules grandfathered in and now new rules, it’s easy to get frazzled. This program will help.

The IRA rules aren't difficult to apply, but they are "fussy." This webinar will discuss the basics, including the requirements to open an IRA, contribution eligibility and limits, and how money can move between IRAs and other plans. IRAs have to be opened properly or be vulnerable to fines. Owners need to adhere to the maximum contribution rules or be subject to penalties. IRA owners also have unprecedented ability to move funds between tax-sheltered plans but may look to you to learn the most efficient ways of doing so. Are you ready? This nuts-and-bolts discussion will introduce relevant IRA terminology and jargon, help you recognize key transactional red flags, address common (avoidable) mistakes, and convey working know-how for common IRA transactions.

At some point - preferably in retirement - IRA owners start dipping into their IRA savings. This program will convey key compliance and customer service considerations to know when processing IRA distributions requests. It will illustrate tax and penalty implications of owner distributions from their traditional and Roth IRAs to help you understand what accountholders are grappling with (hopefully in partnership with competent tax professionals). Speaking of penalties, this seminar will help you categorize the various penalties to which IRA owners are subject. Finally, you’ll be refreshed on IRA withholding requirements – and contrast the 2023 requirements against those which you managed for years.

The IRA rules are always changing, and the IRA world has really been socked hard the last few years. Unfortunately (or fortunately), that won’t slow down anytime soon. Rule changes, although challenging, can necessitate valid, relevant accountholder touchpoints, opportunities for endearing your customers to your organization, resulting in increased loyalty if handled well. This webinar will provide a legislative and regulatory review, and cover the most recent, relevant pronouncements affecting your operations and accountholders. The year-end statements and reports that must be prepared and sent, January through May, will also be reviewed.