IRA Compliance & Reporting

In our new IRA program, we will discuss how to run an effective IRA program from the compliance and reporting side.  What does the bank have to do for customers to stay in compliance and report properly to the IRS.  Your customer and your bank may be depending on you and no one ever mentioned the "how to" of compliance for this important product for your bank.  We will discuss documentation, reporting, withholding, customer notices and how to correct common errors.  Also, we will discuss the practical side of organizing files, forms and other tips to keeping your IRAs in regulatory and legal compliance.  This is a must seminar for those who handle, manage or correct IRS reporting for IRAs.

HIGHLIGHTS

• Understanding contracts, disclosures, amendments
• What is the bank's responsibility and what is the customer's responsibilities
• How to use proven techniques to document contributions and distributions
• Withholding and its annual requirements
• What are 5498 and 1099Rs and when do they go out
• How to fix common customer errors and how to report them correctly
• Practical methods for setting up files, folders and reporting processes

WHO SHOULD ATTEND?

This informative session is designed for IRA Administrators, IRA Managers, Customer Service Representatives that Open IRAs, Branch Managers, and Personal Bankers.