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This 4-hour course reviews the following types of IRA accounts: Traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs. This course also describes who is allowed to open and contribute to an IRA account during the taxable year as well as when taxpayers are permitted to take distributions from an IRA account. This course covers the following topics:

  • Overview of Traditional IRAs and Retirement Planning.
  • IRA Contributions and Limits.
  • Rollovers.
  • Transfers, recharacterizations, and Distributions.
  • Penalties.
  • Overview of Roth IRAs.
  • Rollovers and recharacterizations.
  • SIMPLE Plans and SEPs.

 

Learning Objectives

  • Identify the requirements for serving as a trustee for an IRA account.
  • Recognize the requirements for opening a traditional IRA account.
  • Recognize the maximum contribution that can be made by a taxpayer to an IRA account.
  • Discover how to calculate the amount of a partial deduction to an IRA account.
  • Identify when a taxpayer must start receiving distributions from an IRA account.
  • Discover how to calculate the amount of minimum distributions from an IRA account.
  • Recognize prohibited transactions for an IRA account.
  • Recognize the maximum contribution that can be made by a taxpayer to a Roth IRA account.
Last updated/reviewed: Aug 29, 2020

16 Reviews (44 ratings)Reviews

4
Member's Profile
Lots of information in this one. I wonder if it could even be broken up to cover the different retirement options to allow the learner to focus on certain ones.
3
Member's Profile
It would be helpful to show slides when the instructor is giving an example. It is a bit challenging trying to follow when there is no visual.
5
Anonymous Author
This instructor organizes the material really well. Dry topic but I prefer these in-depth ones. Best comprehensive instruction in my opinion.
3
Member's Profile
Course was great. Nice to have examples, but the examples are not displayed on the slides so they are of limited use and hard to follow.
4
Anonymous Author
This is a good course if you want to determine various options when looking into retirement accounts and ROTH IRAs.
4
Anonymous Author
This is a fine basic overview of IRA's, but it needs to be updated. For example, the 70.5 RMD rule is now 72.
5
Member's Profile
very informative, will come back to this for references. Would like for it to be updated for 2019 year though.
4
Member's Profile
Course material need to be in one file. Otherwise it was a clear presentation of the required facts.
4
Member's Profile
great course, thank you for the detail. would have loved to see a more comprehensive study guide.
5
Member's Profile
Good overview especially for individuals new to the industry. Goes into good relevant strategies.
4
Anonymous Author
The course was good but it would be nice to have a PDF with more detail than a glossary/index.
4
Member's Profile
Well presented in-depth analysis of all things retirement. Clear and understandable.
5
Anonymous Author
It would be beneficial to release the wrong answers for the final exam.
3
Member's Profile
Information and questions are in relation to 2018 IRS regs and filings
4
Anonymous Author
Would have liked to seen examples rather than just hear about them.
4
Member's Profile
It was a very factual course and presented straight forward.

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  21:43Introduction to Individual Retirement Accounts 2020
  33:29IRA Contributions and Limits
  17:24Rollovers
  18:02Transfers, Recharacterizations, and Distributions
  11:36Penalties
  16:44Overview of Roth IRAs
  6:40Rollovers and Recharacterizations
  27:03SIMPLE Plans and SEPs
CONTINUOUS PLAY
  2:32:38Individual Retirement Accounts 2020
SUPPORTING MATERIALS
  PDFSlides: Individual Retirement Accounts 2020
  PDFIndividual Retirement Accounts 2020 Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM