Tag Archive for: IRAs

Events

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Breaking: Recent Bank Failures: What Does It Mean to Your Institution? FREE Webinar

Doubtless we’ve all heard by now of the sudden and unexpected closures of Silicon Valley Bank and others last week. You’ve also likely heard federal regulators announced plans to support depositors of the two banks and prop up consumer confidence in the banking industry. What exactly happened here? Are more bank failures expected? What were the actions the regulators took to guarantee the deposits of these banks’ customers?

In this short webinar, we’ll address the problems faced by Silicon Valley Bank and other recently failed banks, and anticipate questions your customers may be asking you. We’ll sort our way through what has happened and ensure you’re prepared with the right information to understand the present situation, as well as address concerns throughout the industry.

What You’ll Learn

  • What has happened so far?
  • Will it happen to other financial institutions?
  • Is the industry in trouble?
  • Regulatory and government responses
  • Impact on FDIC deposit insurance
  • New assessment fee
  • Communication and management
  • What to tell concerned customers
  • Future outlook

Who Should Attend
Anyone in the financial institution that would like an update on current events. Especially front-line personnel who may need to respond to questions from the public.

Instructor Bio
Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, D.C. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

Registration 

  • Free

 

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Opening Accounts Online: CIP, CDD, Documentation, & Beneficial Ownership

Online account opening is here to stay. A cascade of regulations apply, including BSA, CIP, CDD, E-SIGN, beneficial ownership, and more. Would you be able to identify a red flag? Are you adept at wading through the documentation? If all this seems like paddling upstream, this webinar will bring smooth sailing.

After This Webinar You’ll Be Able To:

  • Explain and implement the E-SIGN consent process to open accounts online
  • Understand which deposit regulations are related to E-SIGN and have compliance provisions
  • Use the most-recent BSA guidance to satisfy CIP due diligence requirements
  • Define and identify acceptable documents to open accounts and incorporate risk mitigation into the new account process
  • Document the requirements for accounts subject to beneficial ownership

Webinar Details

Compliance with E-SIGN requirements is one piece of the puzzle to opening accounts online, while knowing the “true identity” of the customer for BSA and CIP completes the process. What additional “out of wallet” questions should be asked when accounts are opened online? How does electronic account opening impact the BSA risk assessment process? Learn about the additional controls needed to protect your financial institution and red flags for reporting suspicious activity. Important requirements will be covered, including:

  • CIP required documentation and “reasonable belief” of the identity of the customer
  • Risk-mitigation strategies
  • Beneficial ownership criteria and documentation

Who Should Attend?
This informative session will ensure compliance with e-banking and is designed for compliance officers, risk managers, operations managers, business development managers, and others responsible for managing online banking, E-SIGN compliance, e-statements, and e-disclosures.

Take-Away Toolkit

  • Current exam procedures and resources for online banking
  • E-SIGN checklist and answers to common questions
  • 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

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter
Susan Costonis, CRCM – Compliance Training & Consulting for Financial Institutions

Susan Costonis is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Costonis has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Costonis has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.

Registration Options

  • $279 – Live Webinar Access
  • $279 – OnDemand Access + Digital Download
  • $379 – Both Live & On-Demand Access + Digital Download
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2023 IRA Series

IRAs are an essential part of retirement planning for your accountholders, but they can be extremely complex. Knowing the rules and how they are applied is crucial to having a successful, compliant, and error-free IRA program at your institution. Our 2023 IRA Series has you covered with an annual update of what’s new and changing, guidance on beneficiary designations, and a comprehensive overview of traditional and Roth IRAs, including eligibility, contributions, rollovers, distributions, taxation, and more.

IRA SERIES
90-minute webinars – available live or on-demand

Purchase webinars individually or save with the series, 6 webinars for the price of 5!

Registration Option for Series

  • $1395 – OnDemand Access + Digital Download
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IRA Beneficiary Designations & Distributions Part B: Successor Beneficiaries & Deaths After January 1, 2020

Part B of this two-part program will sew up any remaining questions about IRA beneficiary designations and distributions — especially regarding deaths occurring on or after January 1, 2020.
You’ll also learn about the effect of IRS-proposed regulations that are on the horizon. Don’t miss it!
This webinar is part of the 2023 IRA Series.

After This Webinar You’ll Be Able To:

  • Discuss beneficiary options for deaths occurring on or after January 1, 2020
  • Review the beneficiary options on the quick reference charts
  • Comprehend several special and complex rules contained in the IRS-proposed regulations
  • Understand how to handle contested beneficiary designations
  • Observe certain beneficiary election deadlines, including the new deadline for certain spouse beneficiary elections

Webinar Details
Join us as we expand on many of our Part A beneficiary consideration topics, including a detailed discussion of beneficiary options for deaths occurring on or after January 1, 2020, and a review of the complex and often confusing successor beneficiary options. This session will also include information on reporting requirements and an explanation of beneficiary separate accounting rules and implications. In addition, you’ll learn about the impact that recently issued IRS proposed regulations will have on IRA beneficiary distributions.

Who Should Attend?
Everyone at your organization who is involved with IRA accounts will benefit, including service representatives, operations personnel, compliance staff, administrative staff, management, trust department staff, and those licensed for insurance and securities.

Take-Away Toolkit

  • 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

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.

Presenter
Frank LaLoggia — LaLoggia Consulting, Inc.

Frank LaLoggia is the president of LaLoggia Consulting, Inc., Rochester, New York, a pension consulting firm that assists financial organizations with ongoing support in the creation, development, and marketing of their retirement plans offerings.

LaLoggia coordinates and conducts retirement plan seminars and training programs throughout the United States, including in-house IRA, HSA, and employer retirement plan training sessions. With over 39 years’ experience in employee benefits, he has assisted many leading financial organizations in the pension and financial services industries. LaLoggia has achieved the designation of Deferred Compensation Specialist through Northeastern University’s Center for Continuing Education and The National Retirement Plans Training Conference.

Registration Options

  • $279 – Live Webinar Access
  • $279 – OnDemand Access + Digital Download
  • $379 – Both Live & On-Demand Access + Digital Download
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IRA Beneficiary Designations & Distributions Part A: Proper Handling, Responsibilities, & Compliance

Are you an IRA beneficiary distribution expert?
Well, the SECURE Act has ensured that beneficiary designations and distributions are even more complicated. If IRAs are your bailiwick, the compliance and practical information in this two-part program will be invaluable.
This webinar is part of the 2023 IRA Series.

After This Webinar You’ll Be Able To:

  • Know the considerations when naming IRA beneficiaries
  • Per capita vs. per stirpes designations
  • Minor IRA beneficiary considerations
  • Organizations as beneficiaries
  • Review the beneficiary options on the quick reference chart
  • Consider divorce and power of attorney issues
  • Understand community and marital property state rules and issues
  • Handle and report beneficiary death distributions

Webinar Details
Join this lively presentation regarding financial organizations’ responsibilities and considerations when handling IRA beneficiary designations and distributions. The SECURE Act has made beneficiary rules and distributions more complex and challenging. In Part A of this two-part session, you will learn about many important traditional and Roth IRA issues, including beneficiary election deadlines and certain reporting obligations. There will also be an overview of IRA beneficiary distribution options for deaths occurring prior to January 1, 2020. Part B will explore beneficiary options for deaths occurring on or after January 1, 2020, in greater detail.

Who Should Attend?
This webinar will benefit anyone involved with IRA accounts, including service representatives, operations staff, compliance staff, and administrative personnel. Management, trust department staff, and licensed insurance and securities personnel will also benefit from this timely session.

Take-Away Toolkit

  • 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

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.

Presenter
Frank LaLoggia — LaLoggia Consulting, Inc.

Frank LaLoggia is the president of LaLoggia Consulting, Inc., Rochester, New York, a pension consulting firm that assists financial organizations with ongoing support in the creation, development, and marketing of their retirement plans offerings.

LaLoggia coordinates and conducts retirement plan seminars and training programs throughout the United States, including in-house IRA, HSA and employer retirement plan training sessions. With over 39 years’ experience in employee benefits, he has assisted many leading financial organizations in the pension and financial services industries. LaLoggia has achieved the designation of Deferred Compensation Specialist through Northeastern University’s Center for Continuing Education and The National Retirement Plans Training Conference.

Registration Options

  • $279 – Live Webinar Access
  • $279 – OnDemand Access + Digital Download
  • $379 – Both Live & On-Demand Access + Digital Download
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2023 IRA Beneficiary Designations and Payouts

What are the current beneficiary payout options — 5 years? 10 years? Life Expectancy Payouts? None of the above? The SECURE Act, which became effective January 1, 2020, significantly shortened most beneficiary payout options. A 40-year-old son of an IRA owner who died before 2020 with a balance of $500,000 could spread that income over approximately 45 years minimizing their income each year. If the owner died beginning in 2020, that same son would now have to claim that $500,000 in income in a 10-year period, most likely bumping up to a higher tax bracket. This webinar is going to delve into the different types of beneficiaries – spouse vs. non-spouse, and individual vs. entity beneficiaries to apply the rules correctly. The Proposed Regulations that were released in February 2022, and the IRS Notice 2022-53 that postponed the Proposed Regulations until at least 2023, will be thoroughly discussed. We will put the pieces of the puzzle together to lower the confusion on these tricky areas of IRA accounts.

What You’ll Learn

  • Definition of an eligible, non-eligible and non-designated beneficiary
  • When does the bank pay to a primary vs. a contingent beneficiary
  • Who has to start a Single Life Expectancy payout the year after the IRA owner dies
  • When does the mandatory 10-year close out date apply?
  • Difference between a Type I and Type II trust to determine payout options
  • What happens when a beneficiary disclaims an IRA
  • Procedures for escheating an IRA to the state’s unclaimed property division

Who Should Attend
Any employee who is responsible for answering client’s questions regarding IRAs, including Customer Service, Call Center, Operations, Tellers, Branch Managers, and Trust Officers. Anyone who is involved in the IRS reporting and corrections to IRS reporting are also encouraged to attend.

Instructor Bio
Patrice M. Konarik is president of Sunwest Training Corp. founded over 25 years ago and is located in the Texas Hill Country near San Antonio, Texas. With over 35 years in the financial industry, Konarik has focused her expertise on the retirement account area and is currently providing live training and Webinars on IRAs and Health Savings Accounts 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.

Registration Option

  • Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts – $279
  • Available Upgrades:
    • 12 Months OnDemand Playback + $110
    • 12 Months OnDemand Playback + CD  + $140
    • Additional Live Access + $75 per person
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GSB – IRA Distributions

Understanding the complex withholding and reporting requirements applicable to Traditional and Roth IRA distributions is critical to maintaining a compliant IRA program. From federal tax implications, including how the early distribution penalty tax applies to IRA owners to how IRA distributions are paid out, our experts provide the know how to get you there.

This 60-minute program will be presented live on: April 12, 2023, 10:00–11:00 a.m. CT

Presenter: Ascensus

Registration Option: Live presentation $275

Recording available through July12, 2023

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GSB – IRA Withholding Rules and Getting Them Right

Are you confident that you’re adhering to all federal and state withholding rules? The SECURE Act significantly increased penalties for improper withholding notifications. This course covers the requirements for both federal and state withholding, how to properly notify IRA owners of their withholding rights, what to do with the withheld assets, the foreign withholding requirements, and the potential penalties for improperly following the withholding rules.

This 60-minute program will be presented live on: April 19, 2023, 10:00–11:00 a.m. CT

Presenter: Ascensus

Registration Option: Live presentation $275

Recording available through July 19, 2023

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GSB – IRA and Employer Plan Rollovers

This course provides answers to your clients’ rollover questions by explaining all the rollover opportunities, including evolving portability rules between IRAs and employer plans. Our experts teach financial organizations how to capture, facilitate, and report rollovers between employer plans and IRAs.

This 60-minute program will be presented live on: May 3, 2023, 10:00–11:00 a.m. CT

Presenter: Ascensus

Registration Option: Live presentation $275

Recording available through August 3, 2023

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GSB – IRA Issues: Top 10 Wrap-Up

Our experts will outline the top 10 IRA topics we get questions about on Ascensus’ consulting lines. Join this webinar to see what makes this year’s Top 10 list!

This 60-minute program will be presented live on: May 10, 2023, 10:00–11:00 a.m. CT

Presenter: Ascensus

Registration Option: Live presentation $275

Recording available through August 10, 2023

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608-441-1200

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Madison, WI 53718

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