2020 IRA School

IRA Changes Are Here: What Does It Mean?

detailed overview of sweeping changes to IRAs under the SECURE Retirement Tax Bill and CARE Act

Monday through Wednesday, Sept. 14-16 - Columbia
Thursday, Sept. 17 (optional) - Columbia

4 Ways to Register 

Online Registration
Online
Sept. 14-16
Sept. 17
  Phone
Phone 573-636-8151
  Fax Registration
Fax 573-634-2754
  Mail Registrations
Mail to:
MBA 
PO Box 57
Jefferson City, MO
65102
Print seminar brochure.

Sept. 14-16

Agenda

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 Bill Affects
  • plan agreement changes
  • amendments
  • contribution rules
  • pre-59.5 exceptions
  • RMD rules
  • death distributions
  • beneficiary options
  • SEP-IRAs
  • SIMPLE-IRAs
CARES Act
  • no RMDs for 2020
  • covid-19 distribution rules
SECURE Tax Bill Covered in Complete Detail
  • changes to contributions eligibility
  • RMDs
  • death distributions
  • additions to pre-59.5 exceptions
  • possible tax credits
  • amendments plan agreements
  • much more

Who Should Attend

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

Sept. 17

Agenda

Excess Contributions
  • what causes
  • how to correct
  • reporting
Recharacterizations
  • what are they
  • procedure
  • reporting
Withholding Reminder Notices
Reporting Year of Death
Reporting Year after Death

SECURE Act Will Require
  • what forms will change
  • explain amendment process
  • change RMD letters
  • beneficiary options
CARES Act
  • reporting procedures for rolling RMDs back into the IRA
  • reporting of the 2019 IRA contributions
  • explanation/handling of the virus distribution rules
5498s
  • correction procedure
1099s
  • correction procedure

Trust Issues
Care Problems
Life expectancy tables will be changing Jan. 1, 2021. How will that affect existing accounts?

Who Should Attend

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

Why Attend the School

SECURE really changes our two biggest topics: RMDs and death distributions, and we will cover all the changes. IRAs are one of the most complicated area of bank personnel responsibility, and it is not possible to learn and understand everything; continual education is needed. Working in IRAs is a building process, and individuals must have a strong foundation. This school is the most comprehensive educational foundation.

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. Nelson has taught MBA programs for more than 16 years.

For More Information

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

Dates and Location

Monday through Thursday, Sept. 14-17
Courtyard by Marriott
3301 Lemone Industrial Blvd.
Columbia, MO 65201
573-443-8000

Hotel Information

All classes are held at Courtyard by Marriott. Tuition does not include housing. Students are responsible for securing their own housing.

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 Sept. 1, 2020. The availability of rooms cannot be guaranteed after this date. Early reservations are encouraged.

Daily Schedule

Monday, Sept. 14 to Wednesday, Sept. 16 
7 a.m.  Breakfast (provided)
8:15 a.m.  Welcome and Introduction (Day 1) 
8:30 a.m.  Session Begins 
Noon  Lunch (provided) 
1 p.m.  Session Resumes 
4:45 p.m.  Session Ends 
Thursday, Sept. 17 
8:15 a.m.  Welcome and Introduction 
8:30 a.m.  Session Begins 
Noon  Lunch (provided) 
1 p.m.  Session Resumes 
4:45 p.m.  Session Ends 

Materials for the School

Please bring these materials to the school; 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

Payment must accompany the registration form application. The fee includes all instruction, supplemental materials, lunches and refreshment breaks.

  • MBA Members
    • School (Days 1-3) - $795 per person
    • Day Four Only - $265 per person
    • Day Four Each Additional - $240 per person
  • Nonmember Fee
    • School (Days 1-3) - $3180 per person
    • Day Four Only - $1060 per person
    • Day Four Each Additional - $960 per person

Days 1-3
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 percent deductible provisions under Section 274(n) of the Internal Revenue Code. Registration fee includes breakfast, lunch all three days and materials.

Day 4
The cost of meals included in the school registration fee is $25. This information is provided for your bank’s tax records, in keeping with the IRS 50 percent deductible provisions under Section 274(n) of the Internal Revenue Code. Registration fee includes breakfast, lunch all three days and materials.

Refund Policy

Any registrant withdrawing by written request before Aug. 31, 2020, will receive a full refund. Registrants withdrawing between Aug. 31, 2020 and Sept. 3, 2020, will receive a refund, minus $100 cancellation fee. Registrants withdrawing on or after Sept. 4, 2020, will forfeit the entire enrollment fee.

Dress Attire

Casual wear is recommended for all sessions. Layered clothing is recommended for your comfort.

Disabilities

If you have any disabilities that require special assistance, please attach a brief letter explaining how we may best accommodate your needs or contact Cindy Foltz at MBA at 573-636-8151.