Webinar: Hottest IRA Issues: Reporting, Compliance & Required Minimum Distributions
November 12, 2024 3:00 pm - 4:30 pm
Do you know how to calculate IRA RMDs?
Do you know what you should and should not do and say about them? What about the reporting and statement requirements necessary to avoid potential fines and penalties? This real-world session will answer those questions (and more), review IRA withholding rules, and address common compliance concerns to help you hone in on red flags and preempt common IRA owner mistakes.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Recite key operational considerations related to IRA owner required minimum distributions (RMDs)
- Define the IRA balance for an RMD calculation
- Arrive at an IRA owner’s life expectancy factor for an RMD calculation
- Recall how an RMD is calculated
- Identify the IRS reporting deadlines for IRS Forms 1099-R and 5498
- List the annual statements and reports IRA providers are required to supply to IRA owners and beneficiaries
- Explain how withholding requirements are met at your financial institution
WEBINAR DETAILS
This timely webinar will bring you up to date on issues surrounding IRA reporting, compliance, and required minimum distributions. Presented in an easy-to-understand format, it will help ensure that you and your organization are current on your reporting, participant notifications, and other compliance responsibilities. Go beyond the basics of the IRA required minimum distributions rules with this explanation of several complex RMD rules that often trip up IRA owners and financial organizations.
WHO SHOULD ATTEND?
This webinar is targeted to those who answer operational questions, spot-check IRA owner RMD exception reports, generate IRA owner statements and reports, prepare IRS reporting files, build reports for outside reporting agencies, process IRA owner distributions, field questions resulting from interactions with IRA owners, and hold securities and insurance licenses.
TAKE-AWAY TOOLKIT
- Instrument for calculating required minimum distributions
- IRA reporting tool
- Step-by-step IRA withholding tool
- Slides include quick links to:
- Life expectancy tables for RMD calculations
- IRS Forms 1099-R and 5498
- IRS Forms 1099-R and 5498 reporting instructions
- 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
Speaker: Frank LaLoggia, LaLoggia Consulting Inc. and Loni Porta
Frank LaLoggia is the President of LaLoggia Consulting, Inc., a pension consulting firm that assists financial organizations with ongoing support in the creation, development, and marketing of their retirement plans offerings.
Frank coordinates and conducts pension seminars and training programs throughout the United States, including in-house IRA, HSA, and employer retirement plan training. With over 40 years of experience, he has assisted many leading financial organizations in the pension and financial services industries.
Loni Porta is the director of education at Convergent Retirement Plan Solutions and has been with the company since 2004. An industry leader in IRA, HSA, and retirement plan education, Loni plans, budgets for, and builds training and education products and solutions for financial organizations nationwide. An avid student of learning styles and adult learning principles, Loni incorporates her skills into Convergent’s training and education products and services.
She attended North Dakota State University in Fargo, ND, and came to Convergent after her tenure at Universal Pensions, Inc. (UPI), a nationally recognized retirement consulting and training firm in Minnesota. While at UPI, Loni helped design the industry’s first IRA-specific designation program (the American Bankers Association's Certified IRA Services Professional (CISP) program) and NAFCU’s Certified IRA Professional program.