2021 IRA School

IRA Changes Are Here: What Does It Mean?

detailed overview of sweeping changes to IRAs under the SECURE Act, the CARES Act and 2021 new IRS notices

Sept. 13-16 | Columbia

4 Ways to Register 

Online Registration
Online
  Phone
Phone 573-636-8151
  Fax Registration
Fax 573-634-2754
  Mail Registrations
Mail to:
MBA 
PO Box 57
Jefferson City, MO
65102
Print Program Details

Agenda

The SECURE Act impacts two main topics: RMDs and death distributions. MBA’s 2021 IRA School will address these relevant changes. In addition, IRAs are one of the most complicated areas of bank personnel responsibility, and it is not possible to learn and understand everything. Continual education is necessary to ensure confidence. Working with IRAs is a process and must start with a strong foundation. This school can provide this foundation through a comprehensive curriculum.

Sept. 13-15

Overview of IRAs

  • procedures to establish IRAs
  • bankruptcy & IRAs
  • saver’s tax credit
  • IRA transfers versus rollovers
  • QRP direct rollovers versus indirect
  • conversions
  • taxation versus penalty tax
  • trusts as a beneficiary
  • HSAs

Topics SECURE Act Affects

  • plan agreement changes
  • amendments
  • contribution rules
  • Pre-59.5 exceptions
  • RMD rules
  • death distributions
  • beneficiary options
  • SEP-IRAs and SIMPLE-IRAs

SECURE Act Covered in Complete Detail

  • changes to contributions eligibility
  • RMDs
  • death distributions
  • additions to pre-59.5 exceptions
  • possible tax credits
  • amendments plan agreements, plus more

Sept.16

Excess Contributions

  • causes
  • how to correct
  • reporting

Recharacterizations

  • what are they
  • procedure
  • reporting

Withholding Reminder Notices

Reporting: Year of Death & Year After Death

SECURE Act Requirements

  • changes in forms
  • explanation of amendment process
  • change RMD letters
  • beneficiary options

CARES Act

  • reporting procedures for rolling RMDs back into an IRA
  • reporting of 2019 IRA contributions
  • explanation/handling of COVID-19 distribution rules

5498 & 1099 Correction Procedures

Trust Issues
Case Problems

*Life expectancy tables changed Jan. 1, 2021. How does that affect existing accounts?

Who Should Attend

Sept. 13-15

For new IRA and experienced staff, this program is the quickest, easiest and most comprehensive coverage of IRAs and HSAs. Days one to three of the school will cover new and current IRA material, and previous topics covered at the school will be expanded.

Sept.16 (optional)

This program is for anyone who is involved indirectly or directly in IRA operations, reporting, auditing or compliance and covers how the SECURE Act will affect bank operations. Attendees will work on actual case problems.

About the Instructor

After teaching sales and marketing for 14 years at a community college, Mike Nelson started his own training company where he conducted insurance, real estate and securities training seminars. He currently develops financial training services for financial institutions nationwide.

For More Information

Contact the MBA Education Department at 573-636-8151 or email.

Location

The school will be held September 13-16 at the Courtyard by Marriott in Columbia.

Courtyard by Marriott
3301 Lemone Industrial Blvd.
Columbia, MO 65201

School participants should contact Courtyard by Marriott directly for hotel reservations at 573-443-8000. The special group rate of $101 plus tax, per room, per day, single or double occupancy is available. Be sure to state you are attending the Missouri Bankers Association IRA School. A block of rooms is reserved for this school until Aug. 30, 2021. The availability of rooms cannot be guaranteed after this date. Early reservations are encouraged.The health and well-being of our members is of utmost importance to the MBA. Social distancing will be implemented at this event. 

Schedule

7:30 to 8:30 a.m.  Registration/Breakfast
8:30 a.m. to Noon  Session
Noon to 1 p.m. Lunch (provided)
1 to 4:45 p.m. Session 

Materials for the School

Please bring these materials for the program; they will be part of the instruction.
  1. IRA vendor forms
  2. plan agreement
  3. contribution form
  4. distribution form
  5. transfer request
  6. direct rollover request
  7. rollover certification
  8. 70½ election form
  9. waiver form
  10. beneficiary plan agreement
  11. beneficiary elections
  12. beneficiary contribution
  13. beneficiary distribution form
  14. RMD letter
  15. withholding reminder notice

Registration Fees

Registration fee includes instruction materials, as well as the costs of meals and breaks.

MBA Member Fees

  • Full School - $950 per person
  • Days 1-3 Only - $875 per person
  • Day 4 Only - $290 per person

Nonmember Fees

  • Full School - $3,800 per person
  • Days 1-3 Only - $3,500 per person
  • Day 4 Only - $1,160 per person

The cost of meals included in the school registration fee is $65. This information is provided for your bank’s tax records, in keeping with the IRS 50% deductible provisions under Section 274(n) of the Internal Revenue Code.

Refund Policy

Any registrant withdrawing by written request before Aug. 31, 2021, will receive a full refund. Registrants withdrawing between Aug. 31, 2021, and Sept. 7, 2020, will receive a refund, minus $100 cancellation fee. Registrants withdrawing on or after Sept. 7, 2021, will forfeit the entire enrollment fee.

Attire

Business casual is recommended for all sessions. Layered clothing is recommended for your comfort.

Special Requests

If you have any special requests, please contact Cindy Foltz at 573-636-8151 or email by Sept. 7.