Time: 9:00 am - 4:30 pm (registration at 8:30 am)
Location: Utah Credit Union Association, 1805 S. Redwood Rd, SLC, UT, 2nd floor training room.
Advanced IRAs builds on the attendees’ knowledge of IRA basics to address some of the more complex IRA issues 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:
Resolving Contribution Issues
- Identify the difference between a true excess and a deemed excess
- Explain the deadline to correct an excess contribution
- Calculate net income attributable and describe the methods for correcting an excess contribution
- Explain the restrictions on the movement between IRAs and the result of violating the portability restrictions
- Recognize the options available when moving from an employer-sponsored retirement plan to an IRA
- Describe a conversion, a reconversion, and the consequences of an ineligible conversion
Required Minimum Distributions
- Calculate a required minimum distribution (RMD)
- Discuss the RMD rules and reporting requirements
- Describe beneficiary distribution options
- Recognize beneficiary payment and election deadlines
- Correcting Tax Forms
- Identify how to manually correct IRS Form 1099-R and Form 5498
- Determine how to correctly complete IRS Form 1096
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 wishes to expand your expertise and provide enhanced customer service;
- are a financial professional who recognizes that IRAs play an integral role in retirement planning;
- are a compliance specialist with procedural oversight of IRA policies and practices; or
- are support personnel responsible for promotional materials that describe the services provided by your financial organization.
Paul Kern CIS, CIP, CISP - Product Manager of Education
Paul Kern is the Product Manager for Education at Ascensus, Inc. He is responsible for conducting, collaboratively designing and evaluating all training programs to meet the needs of financial organizations nation-wide. He is an active member of the National Certified IRA Professional (CIP) Examination Board of Directors and CIP Commission.
Before joining Ascensus in 2009, Paul worked for CUNA Mutual Group for 5 years as a training consultant. Prior to 2004, Paul worked in K-12 Education for 10 years. He taught 1st and 2nd grade for 4 years and was a technology integrator for 6 years. His primary responsibilities included integrating technology into K-12 curriculum to meet state and federal standards, individual staff technology development plans, technology staff development sessions, and leadership trainings. During this time he was also an adjunct professor for Edgewood College, Viterbo University, and a requested speaker for the University of Wisconsin-Madison Educational Technology Department.
Paul holds a Bachelor of Science Degree in Elementary Education with a minor in Psychology from Winona State University and a Master of Science Degree in Curriculum and Instruction from the University of Wisconsin – Madison. He is a member of the American Society for Training and Development (ASTD), has earned the designation of Certified IRA Specialist (CIS) through Ascensus, Certified IRA Professional (CIP) through Ascensus and the National Association of Federal Credit Unions (NAFCU), as well as the designation of Certified IRA Services Professional (CISP) through the American Bankers Association (ABA).