IRA Reporting Recorded Webinar

2009 and 2010 reporting? Most of the changes affect transactions
that have already occurred. The IRA custodian/trustee is responsible for all IRA reporting and subject to all IRS non-compliance penalties, whether or not a third-party vendor is used. Learn what the most common reporting mistakes are and how they must be corrected. Learn the NEW Social Security Number truncation requirements.

One of the most important duties an IRA custodian/trustee has is reporting to the IRA accountholder/beneficiary and to the IRS. This webinar reviews all required reporting procedures.

The following topics are discussed:

How are the 2009 RMD Reporting procedures changed ?
How is Fair Market Value (FMV) calculated ?
What is required on the year-end FMV Statement ?
How is the FMV of non-cash IRA assets calculated ?
Who is responsible for obtaining the correct FMV ?
How is the FMV of Inherited IRAs calculated ?
When is date-of-death FMV required ?
What are the requirements for the Required Minimum Distribution (RMD) Notice ?
Who is responsible for calculating the RMD ?
What is reported on the IRS Form 5498 ?
What changes occur in 2009 ?
What are the most common reporting mistakes on Form 5498 ?
How are the military reporting and rollover exceptions reported ?
Are Revocations and Account Closures reported differently ?
Is your financial institution reporting Inherited IRAs correctly ?
Non-compliance penalties can be severe !
Can IRA Accountholder/Beneficiaries be reported electronically ?
What is the most common mistake for Form 1099-R reporting ?
Is your financial institution using the IRS Codes Correctly ?
When is Code 8 or Code P used for correcting excess contributions ?
When are multiple codes REQUIRED ?
What is the difference between Code R and Code N for recharacterizations
When is a Roth Distribution qualified ?
When is a Qualified Roth distribution not reported as such ?