Customers and clients are getting letters and substantial bills from the IRS saying they owe taxes on money that was moved from one financial institution to another and one of the banks did not report the transaction correctly to the IRS.
It is not rocket science. It is a 3-piece puzzle with questions that must be asked and answered:
- What kind of plan is it coming from?
- What kind of plan is it going into?
- Does the customer have the ability to use the funds in between?
Once you truly get the answers to these questions, the reporting of the movement of funds defaults according to the IRS regulation.
What You’ll Learn
Who Should Attend?
This is a ‘must-attend’ webinar for anyone – even remotely – involved in IRAs including, frontline, back-office operations, call center, investment department, and trust department personnel.
Continuing Education (CE) Credits
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.