Course Overview

This course provides comprehensive instruction on reporting and record retention requirements for Traditional and Roth IRAs (Individual Retirement Arrangements), employer-sponsored plans and other tax-preferred accounts. If your company retains reporting records from clients, or advises clients through the process, this training helps professionals develop mastery of IRA reporting practices.

In this expert course, you will learn:
• Which deadlines are most important to comply with IRA reporting requirements
• How reporting for citizens is different than for nonresident aliens
• How to avoid penalty with proper record retention
• How taxation filing differs between account types

Course Details

  • 55 Minutes of Instruction

  • 1 Continuing Education (CE) Credit

  • $99

  • Advanced Level

  • CISP, CTFA, & CRSP Designations

Course Syllabus

  • 1

    IRA Reporting Requirements and Record Retention

    • Getting Ready with Course Resources

    • Agenda

    • IRS Form 5498

    • Fair Market Value Statement

    • IRS Forms 1099-R, 1042-S, 945, 945-A, 1042

    • RMD Notice

    • Death Reporting

    • Reporting Penalties

    • Reporting Corrections

    • Record Retention

    • IRA Forms Filed with the IRA Holder's Tax Return

    • IRS Form 990-T

    • Summary

    • IRA Reporting and Record Retention Quiz