How to Audit Your IRAs, HSAs and CESAs

Presented by: Deborah Crawford



Many capable individuals inherit the IRA, HSA, and CESA departments when someone retires. You, as the new IRA coordinator , find that the one day of training at a local workshop was not enough for you to be the administrator of an IRA Department. You realize that you do not know what has happened in the past on the files and have no clue about what is required in the future. In this program, we will focus on the paperwork, reporting, and errors that can occur. We will walk you through how to audit your Individual Retirement Accounts, Health Savings Accounts and Coverdell Education Savings Accounts. Whether you are new at the job or experienced, it may be a good time to review all the paperwork and check the reporting and balance your files. There are many fines and potential liability for accounts that are mishandled and misreported to the IRS.

You will receive audit worksheets, samples of common errors, a compliance calendar and many tools for effectively auditing your IRA, HSA and CESA portfolio. You will also receive a compliance handbook for these accounts.

What you will learn:

• Documents required to open IRAs
• Documents required to close IRA accounts
• All the amendments that should be in your files
• How to establish a "Master File" each year to make amendments, mailings and withholding documentation easier
• Common IRS reporting errors and how to fix them
• How to open each existing file and check it for documentation and reporting
• Withholding requirements and common failures
• Health Savings Account and Coverdell Education Savings Account documentation and why these documents may be slightly different
• The fines, penalties and possible repercussions from errors, omissions and other mistakes in the IRA department
• How to run your calendar to make sure all compliance tasks are accomplished
• How to check your age 70 ½ distributions on IRAs
• How to check excess contributions on Health Savings Accounts
• And much, much . . .more

Who should attend:
IRA Coordinators and Administrators, branch administration, compliance officers, customer service representatives and anyone who opens or checks IRAs, HSAs and CESAs.

About the Speaker: Deborah Crawford is the President of gettechnical inc, a Baton Rouge-based firm, specializing in the education of banks and credit unions across the nation. Her 23+ years of banking and teaching experience began at Hibernia National Bank in New Orleans . She graduated from Louisiana State University with both her bachelor's and master’s degrees. Deborah's specialty is in the deposit side of the financial institution where she teaches seminars on regulations, documentation, insurance and Individual Retirement Accounts.


VIEW A 10 MINUTE SAMPLE
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CD-ROM Includes:

• Complete presentation (including slides and audio)
• Written Materials
• Follow-up Q & A

You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This program was recorded in its entirety on January 2012. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.