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IRA Essentials - Columbia

October 16th, 2012 9:00 AM – 4:00 PM

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IRA Essentials gives attendees a solid foundation of IRA knowledge. Exercises are included throughout the day to help participants apply information to job-related situations. Attendees will leave this session able to work with IRA owners and process basic IRA transactions with confidence.

This is a beginner’s session; no previous IRA knowledge is assumed. Those attending should bring a hand-held calculator.

Introduction to IRAs

  • Explain the benefits of an IRA.
  • Identify the tax differences of a Traditional and Roth IRA.

Establishing an IRA

  • Examine the process for establishing an IRA and the required documents.
  • Differentiate between the types of beneficiaries.


  • Learn about the Traditional and Roth IRA eligibility requirements.
  • Identify the contribution limit and deadline.
  • Ensure accurate contribution reporting.

IRA Distributions

  • Distinguish the possible taxes on IRA distributions.
  • Identify federal and state tax withholding requirements.
  • Examine IRS penalties and their exceptions.
  • Ensure accurate distribution reporting.


  • Identify the differences between a rollover and a transfer.
  • Recognize rollovers between IRAs and employer-sponsored retirement plans.
  • Ensure accurate rollover reporting.


  • Recognize reporting requirements and outline IRA reporting deadlines.


You should attend this seminar if you:

Need to learn the basics of Traditional and Roth IRAs
Want an updated, general refresher on IRA rules.


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


Lakewood Country Club
13901 Glen Mill Road
Rockville, MD 20850

Event Info


October 16th, 2012 9:00 AM – 4:00 PM


Lakewood Country Club
13901 Glen Mill Road
Rockville, MD 20850


Phone: 443-325-0766

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