Virtual IRA Workshop

Virtual IRA Workshop



LSCU has partnered with Ascensus® and five credit union leagues across the U.S. to provide a Virtual IRA Essentials & Advanced Workshop on September 22 and 23.


IRA Essentials - September 22nd

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. Attendees should bring a hand-held calculator.

Course Topics
Introduction and Establishing IRAs
IRA Funding
IRA Distributions
IRA Portability

Who Should Attend?
You should attend this seminar if you need to learn the basics of Traditional and Roth IRAs or want an updated, general refresher on IRA rules.


All times are based on EST
*There will be 5-minute breaks throughout the workshop

Time Event
9:00 a.m. - 10:30 a.m. Introduction and Establishing IRAs
• Identify the tax advantages of Traditional and Roth IRAs
• Summarize the IRA opening document requirements
• Explain the difference between primary and contingent beneficiaries
10:30 a.m. - 12:00 p.m. IRA Funding
• Compare and contrast Traditional and Roth IRA eligibility requirements
• Explain the regular contribution limit
• Distinguish the regular contribution deadline
• State the rules for prior-year contributions
• Communicate the regular contribution reporting deadlines
12:00 p.m. - 12:45 p.m. Lunch Break
12:45 p.m. - 2:15 p.m. IRA Distributions
• Identify federal income tax withholding requirements
• Recognize the exceptions to the early distribution penalty tax
• Summarize the tax consequences of Traditional and Roth IRA distributions
• Define a required minimum distribution and the required beginning date
• Communicate the distribution reporting deadlines
2:15 p.m. - 3:45 p.m. IRA Portability
• Differentiate between a transfer and a rollover • Distinguish between direct and indirect rollovers between IRAs and employer-sponsored retirement plans
IRA Advanced - September 23rd

Advanced IRAs builds on the attendees’ basic IRA knowledge to address some of the more complex IRA issues that their financial organizations 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.

Course Topics
IRA Update
Required Minimum Distributions
Beneficiary Options
Advanced Portability
Roth IRA Conversion Contributions
IRA Excess Contributions

Who Should Attend?
You should attend this seminar if you are an IRA administrator, personal banker, or member services personnel who has a working knowledge of basic IRA operations and wishes to expand your expertise and provide enhanced customer service; a financial professional who recognizes that IRAs play an integral role in retirement planning; a compliance specialist with procedural oversight of IRA policies and practices; or support personnel responsible for promotional materials that describe the services provided by your financial organization.


All times are based on EST
*There will be 5-minute breaks throughout the workshop

Time Event
9:00 a.m. - 9:30 a.m. IRA Update
• Explain recent changes affecting IRA owners
• Discuss the current Roth modified adjusted gross income (MAGI) limits
• Recognize how recent changes may affect your financial organization
9:30 a.m. - 10:30 a.m. Required Minimum Distributions
• Calculate a required minimum distribution (RMD)
• Discuss the RMD rules and reporting requirements
10:30 a.m. - 12:00 p.m. Beneficiary Options
• Describe beneficiary distribution options
• Recognize the differences for spouse, nonspouse, and nonperson beneficiaries
• Explain beneficiary payment deadlines
12:00 p.m. - 12:45 p.m. Lunch Break
12:45 p.m. - 1:45 p.m. Advanced Portability
• Summarize the restrictions on the movement between IRAs
• Recognize the options available when moving from an employer-sponsored retirement plan to an IRA
• Explain the result of violating the portability restrictions
1:45 p.m. - 2:30 p.m. Roth IRA Conversion Contributions
• Describe a conversion
• Explain the effect of withholding on a conversion
• Report a conversion
• Define the consequences of an ineligible conversion
2:30 p.m. - 3:45 p.m. IRA Excess Contributions
• Define an excess contribution
• Identify excess contribution correction methods
• Calculate NIA to an excess contribution
• List the possible taxes and penalty taxes for excess contributions

IRA Essentials Workshop/September 22: $219 per person

IRA Advanced Workshop/September 23: $219 per person

IRA Essentials and Advanced Workshops/September 22 & 23: $425 per person


Cancellation Policy

All cancellations must be submitted in writing and received by 5:00pm on Tuesday, September 15. No refunds will be issued after this time. Substitutions are always welcome. Please submit cancellations and substitutions to Mary Hogan.

Small Asset Sized (SAS) CU Initiative Account

SAS credit unions ($50 million in assets or less) may apply a portion of their $500 SAS CU Initiative Account to the registration fee for this event or any LSCU or League Service Corporation product and/or service. As LSCU bills your credit union for the events/services used, your credit union can simply write on the invoice that it is to be paid out of your LSCU Small Credit Union Initiative Account. The League’s accounting staff will keep track of the expenditures from your account.

CPE Sponsors

The League of Southeastern Credit Unions (LSCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website.

In accordance with the standards of the National Registry of CPE Sponsors, CPE credits will be granted based on a 50-minute hour.

Record Retention Policy

It is the League of Southeastern Credit Unions’ policy to retain records of our educational offerings for a minimum of five years from the date of the program. Specific documents to be retained for each event include: participation sign-in sheets; dates and locations of educational offerings; instructor name and credentials; number of CPE credits earned by participants; compiled evaluation results; copies of program materials; material review dates and documentation and CPE review dates and documentation.

Program Cancellation Policy

The League of Southeastern Credit Unions reserves the right to cancel events at its discretion. Should an event be cancelled the registered participant and/or the credit union contact will be notified via the email address provided and a full refund of the registration fee amount paid will be issued to the credit union.

Complaint Resolution Policy

For more information regarding administrative policies such as complaints, contact via email at

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