2024 IRA Fundamentals

IRA Fundamentals

The IRA Fundamentals workshop provides attendees with a solid foundation of IRA knowledge. Exercises are included throughout the session to help participants apply information to job-related situations. Attendees will leave this session able to work with IRA owners and process basic IRA transactions with confidence.

INSTRUCTOR: 


Becky Soto
Community Bankers Association of Georgia
AVP Professional Development 

LEARNING GOALS INCLUDE:
•    Identify IRA Basics 
o    What is an IRA?
o    How does an IRA work?
o    Benefits of an IRA
o    Requirements for Opening IRA
o    New Changes in IRAs
o    IRS Penalties and Penalty Exceptions

•    Explore and Differentiate the Features of IRAs 
o    Traditional
o    Roth
o    Simple
o    Simplified Employee Extensions (SEP)

•    Communicate IRA Qualifications 
o    Eligibility
o    Contributions
o    Income Limits
o    Filing Status
o    Deadlines
o    Withdrawal Limits
o    Penalties

•    Distinguish How to Move Assets Between IRAs 
o    Transfers
o    Rollovers
o    Conversion
o    Distributions

•    Highlight of IRA Best Practices 
o    Required Annual Notifications (RMDs)
o    IRA Red Flags
o    Avoiding Most Common IRA Errors
o    Questions Most Asked by Customer