Beneficiary options have had significant changes in the last five years: more so than they’ve had in over 20 years. Imagine this scenario: Your customer dies and within a couple of weeks, three of the four beneficiaries come into the institution. One wants the money, one wants to move the money, and the other wants to leave it with your institution and take out as little as possible. None of them know where the fourth beneficiary is. What do you do now?
Live virtual attendance is a must to get the most out of this engaging training opportunity. Breakout rooms will not be recorded. Space is limited to 35 participants for a high-value learning experience, so register today!
After a condensed information class, we will break into peer groups to work the sample problems. The instructor will drop into the groups to answer questions and hear comments. There will be a wrap-up session at the end to summarize the major issues and how they were handled. You will feel much more confident after attending this interactive workshop.
Remember, we are giving information – not advice.
What You’ll Learn
- When do we complete a new plan document vs. when do we use supplemental forms for an existing customer?
- What are the three questions that must be asked before taking in a Rollover Deposit?
- When do you use the Direct Rollover Request vs. the IRA Transfer Request Forms?
- What is the coding difference between an IRA Rollover and an IRA Transfer?
- How do we title an Inherited IRA?
- What are the requirements on completing a Spousal Consent on the IRA Beneficiary Designation?
- What codes do we use on distributions prior to age 59.5 for penalty exceptions?
Who Should Attend
This interactive session is ideal for CSRs, tellers, operations department reps, call center employees, and anyone who determines who the beneficiaries are for payout options.