IRA Distributions and Reporting

Webinar | 1 1/2 Hours | Credits 2.0

In this IRA webinar, we will work on the distribution side of the IRA as well as the reporting codes and transactions for the 1099 and 5498 series for each type of IRA account. You will learn how to do all kinds of distributions from the IRA, from premature to normal distributions. We will cover the reporting and the penalties your customer/member may face if this is done improperly. We will work some 70 ½ problems and make sure that your financial institution is ready to go for this year’s distributions. We will also discuss how the IRS wants you to report distributions, contributions, correct errors and report balances.

What You Will Learn
• Premature distributions
• Normal distributions
• Death distributions
• Reporting
• Penalties
• 5498 and 1098R codes for all four types of IRAs
• Handling rollovers and transfer reporting
• Coding recharacterizations, revocations and conversions
• How to fix common errors
• Excess contributions corrections for all types of these accounts

Who Should Attend
This webinar is designed for all IRA administrators, personal bankers, trust officers, customer service representatives and those selling or discussing these products with their customers/members.

Deborah Crawford is the President of Gettechnical Inc., a Louisiana-Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has over 30 years of combined teaching and banking experience.