IRAs Part 4 - Auditing Your IRA Files 2023 | Iowa Bankers Association | 25 October 2023 | Webinar

This 2 hour webinar will break down the IRA process in the bank - including expertise and procedural aspects. Knowing what should be retained in your customer files and what can be discarded can help with the clean-up. When mistakes are found in the files, what are the IRS requirements for corrections with respect to IRS reporting?

What You'll Learn?

• What are the documentation requirements to be included in the customer IRA files?
• What disclosures must the customer receive when creating an IRA plan with the bank?
• What happens if there is a deceased beneficiary or no beneficiary listed in the file?
• Why is a review of the IRS reporting so important before it goes out to the IRS or the customer?
• How far back can the bank go to correct an IRS reporting form and when is it necessary?
• What are the 25+ most common mistakes to look for when auditing IRA files?
• What kind of partial audits are the most crucial?"

Who Should Attend?

Any employee who is new to the bank or customer service area and needs to learn the very basic rules and regulations of IRA should attend. In addition, any experienced IRA employees who would like a 'refresher' on the latest ever-changing rules and regulations of IRA would also benefit from this informational webinar.

2023 Speaker

INSTRUCTOR:

Patrice M Konarik
President of Sunwest Corp