IRA Plan Establishment
May 5, 2026
Live Webinar
DateMay 5, 2026Duration90 minutes
08:00 AM PDT09:00 AM MDT
10:00 AM CDT11:00 AM EDT
- Unlimited connections for your institution
- Available on desktop, mobile & tablet
- Take-away toolkit
- Presenter’s contact info for questions
On-Demand Webinar
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
How your institution opens IRAs matters: start plans right and avoid compliance pitfalls from day one.
This session will examine the required documents
for properly establishing an IRA and outline how trustees and custodians can
remain compliant when IRS-issued plan language is delayed. Participants will
review key document retention requirements, learn how to keep IRA owners
updated with the most current information, and identify additional data
elements that strengthen compliance and operational effectiveness.
KEY WEBINAR TAKEAWAYS
- Three documents required to properly establish an IRA
- Retention requirements for IRA plan establishment documents
- The IRA revocation period
- Capturing complete IRA beneficiary information
- Default beneficiary provisions established by your financial organization’s IRA opening documents
BONUS MATERIALS
- Establishing an IRA job aid
- Links to IRS Model Forms
- 5305-A, Traditional Individual Retirement Custodial Account
- 5305-RA, Roth Individual Retirement Custodial Account
- 5305, Traditional Individual Retirement Trust Account
- 5305-R, Roth Individual Retirement Trust Account
WEBINAR DETAILS
How you open IRAs is important. Improper plan
establishment can leave you vulnerable to penalties for noncompliance, as well
as owner dissatisfaction. The problem is, the IRS must provide critical
language for IRA plan establishment, and they don't always do so on our
timelines. So how do you, as trustees or custodians, fulfill your obligation to
remain in compliance and provide vital information to IRA owners? This session
will explore the documents required to properly establish an IRA and how to
keep your IRA owners up to date with current information. It will review the
document retention requirements to follow to remain in compliance, as well as
identify additional information that is helpful to capture and maintain.
WHO SHOULD ATTEND?
- Frontline staff who interface with individuals seeking to establish IRAs
- Compliance staff spot-checking new IRA plans to ensure compliance with the plan establishment requirements
- Management staff making document update determinations
- Internal auditors charged with examining IRA files to determine document retention compliance
TAKE-AWAY TOOLKIT
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
Presented By
Convergent Retirement Plan Solutions, LLC
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