October 18th, 2012 9:00 AM – 4:00 PM

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IRA Beyond Essentials builds on the attendees’ knowledge of IRA basics to address some of the more complex IRA issues their credit unions may handle.

This is an advanced session; previous IRA knowledge is assumed. The instructor uses real-world exercises to help participants apply information to job-related situations.

IRA Benefits

  • Recognize Traditional and Roth IRA tax advantages

IRA Tax Reporting and Withholding

  • List the forms required to complete manual tax reporting corrections.
  • Describe withholding requirements.
  • Analyze tax withholding reporting requirements.

IRA Transactions

  • Identify types of contributions, including rollover and conversion contributions.
  • How to handle a violation of the 60-day or the one-per-12-month rule.
  • Discuss distributions and how assets are removed.
  • Define an excess contribution, a recharacterization, and a reconversion.

Required Minimum Distributions (RMDs)

  • Review the required beginning date (RBD).
  • Distinguish between the Uniform Lifetime and the Joint Life Expectancy tables and how to calculate an RMD. Define the RMD restriction, as well as the effect of rolling over or converting an RMD.

Processing an IRA Death Claim

  • Examine the death claim process.
  • Discuss the requirements for an Incoming Beneficiary Account Transfer.

You should attend this seminar if you:

Are an IRA administrator or member service representative who has a working knowledge of basic IRA operations and wishes to expand your expertise and provide enhanced member service.

Fred Volkman, CIS, CIP, is a training consultant for Ascensus, Inc. He is responsible for conducting IRA training programs to meet the needs of financial institutions nationwide.  Fred is the project manager for IRAdirect® webinar compliance and the IRAdirect training environment.  He is responsible for new and existing IRAdirect compliance webinars for credit unions, including the development, design, implementation, assessment, and maintenance of all courses.  Before joining Ascensus in 2009, Fred worked for CUNA Mutual Group for 12 years as a training consultant.

Fred attended the University of Wisconsin - Eau Claire, Chippewa Valley Technical College, and Madison Area Technical College. He is a member of the American Society for Training and Development (ASTD) and has earned the designation Certified IRA Specialist (CIS) with Ascensus and Certified IRA Professional (CIP) through Ascensus and the National Association of Federal Credit Unions (NAFCU).

8:30 a.m. – Signing in, networking, light breakfast
9:00 a.m. to 4:00 p.m. – Training
Lunch will be provided.

Tuition Reimbursement
Maryland and D.C.-based credit unions $75 million and under in assets may be eligible for a 75% educational reimbursement from the Credit Union Foundation of MD & DC. For details and an application, visit http://www.cufound.org/training.htm

Potomac Federal Credit Union
215 Paca Street
Cumberland, MD 21501

Event Info


October 18th, 2012 9:00 AM – 4:00 PM


Potomac Federal Credit Union
215 Paca Street
Cumberland, MD 21501


Phone: 443-325-0779

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