- Format:Live Stream
- Education Type:BCU Webinars
- Line of Authority:N/A
- Language:N/A
- Credit Hours:N/A
Establishing a strong understanding of IRA basics is crucial for progressing to the more advanced aspects of IRAs. The Day 1 Basic Essentials session is designed to help you build confidence as you become familiar with key terminology, required forms, and the different types of IRA plans. This course serves as the foundational step in your journey toward mastering IRAs and achieving success in this field.
No matter which session you choose to attend—whether it is Day 1, Day 2, or both—you will build a solid sense of confidence in understanding and handling IRA transactions. Each participant will receive an electronic copy of the comprehensive “IRA Training and Reference Manual,” also known as the “Red Book.” This manual will serve as a key resource and will be referenced regularly throughout the training sessions.
It is highly recommended that you have this manual available during the training so you can follow along and easily locate information as needed, both during and after the session. The manual is filled with cheat sheets and quick?reference charts to support your learning and to use as aids. The same “Red Book” will be utilized for both days of training, ensuring continuity and convenience.
What You'll Learn
- Learn the top 20 essential IRA terms, giving you the vocabulary needed to navigate IRA transactions and conversations with confidence.
- Review the contribution limits for Traditional IRAs, along with the income thresholds that determine eligibility for tax-deductible contributions.
- Understand the eligibility requirements for contributing to a Roth IRA and learn when the interest earned is truly tax-free.
- Discover the correct procedures for reporting regular contributions made for the prior year after April 15, particularly in cases of contributions due to federal disaster repaymen
- Explore the rules governing the conversion of Traditional IRAs into Roth IRAs, ensuring you understand when and how these transactions can occur.
- Gain insights into Simplified Employee Pension Plans (SEP) IRAs and consider whether your institution should offer these retirement savings options.
