Oct 29, 2020
What an IRA roller coaster ride this has been!! After a year of deliberations, the SECURE Act was signed into law under the Appropriations Act on December 20, 2019. Most of the provisions were in effect on January 1, 2020. These are the most substantial changes we’ve had to IRAs in almost 15 years. There are too many issues and too many potential pitfalls financial institutions will experience if they don’t have a working knowledge of these changes. Forms will be changed, IRA software must be updated which may take a while.
On top of that, The CARES Act was passed 3 months later further making rules and regulations changes to IRAs. Because of this, you may have to do some explaining to your customers on what the permanent changes are and what the temporary changes are due to the COVID-19 virus. The contribution deadline for 2019 and IRS and customer reporting were extended. Not to mention the RMD waiver for owners and beneficiaries for 2020.
You will receive your manual 2-3 days in advance should you want to print this to have during training. At this time, you will also receive log in instructions. This is a completely LIVE virtual training where you will be able to ask questions directly to the speaker.
In this one day IRA Advanced Update, we will summarize the changes and then actually get into the nitty gritty of new distribution regulations to owners and beneficiaries - what stays the same and what changes? How do we disclose all these changes to our customers?
Each participant will receive an electronic version of the latest 275-page 2020-2021 IRA Training and Reference Manual – “The Red Book”.
This intensive full-day format will help you pull it all together by helping you learn the following:
Updated legislative regulations on IRAs as the result of the SECURE and CARES Acts and the 2020 Cost of Living Adjustments
Patrice M. Konarik is president of Sunwest Training Corp. founded over 20 years ago and is located in the Texas Hill Country near San Antonio, Texas. With over 30 years in the financial industry, Patrice has focused her expertise on the retirement and new account areas and is currently providing live training and Webinars on these subjects on a nationwide basis. She has a BS in Management Science from New York’s Binghamton University. Many state banking associations and other organizations use her as their main source for training on these complicated topics. Patrice is very approachable and encourages attendees to ask questions during the classes.
WHO SHOULD ATTEND
Everyone even remotely involved in IRAs at your financial institution including: New Account Representatives, Certificate of Deposit Personnel, Savings Counselors, Accountholder Service Representatives, Investment and Trust Personnel who need this update and are involved in the opening, selling, marketing, or administration of IRAs. Any officer/manager who "oversees" the IRA department and may be responsible for answering IRA accountholders questions or concerns but does not actually open IRA accounts. Experienced IRA Personnel who like a slower pace workshop to cover all the new changes in a comprehensive manner.
The following fees include the program, and materials:
$250 each attendee
Participation in IBA programs is limited to members, associate members, and nonmembers from an eligible membership category at applicable member or non-member rates. Surcharge of 100% for Non-Members.
This one-day intensive course will be held on October 29, 2020 via zoom technology.
While we may not be able to get together "in person" for this event as originally planned given the circumstances, we know that education/training to stay current and be the best banker you can be is important. That's why we're committed to providing this session and we're taking it online via webinar technology. Same instructor with the same content, but you'll have the ability to join from wherever you're located from the convenience (and safety) of your computer. We look forward to seeing you online!
If you have any questions regarding the 2020 IRA School or any of the educational offerings of the Indiana Bankers Association please contact: Laurie Rees, Vice President - Education & Training at 317-387-9380 or email@example.com
Within three or more business days prior to the day of an educational program, no cancellation charge will be assessed. Within two days prior, 50% of the fee is assessed. Refunds are not provided for cancellations 1 day prior or absences on the day of the program. Substitutions are welcome at any time.