Episode 12: Update and Current Status of IRAs: What Has Changed and What you Need to Know

Banking Compliance Insights By Wolters Kluwer

Banking Compliance Insights is a podcast series created to deliver insights on compliance trends and provide strategies for navigating today’s regulatory and risk environments.
Wolters Kluwer® is a market-leading provider of advisory services and technology solutions for optimizing compliance and risk management programs. Banking Compliance Insights is a podcast series created to deliver insights on compliance trends and provide strategies for navigating today’s regulatory and risk environments.
Episode Summary:
Hosted by Samir Agarwal (https://bit.ly/3cWnLnU) and special guest Michael Schiller (https://bit.ly/2IWJVLN)
Are you prepared for the significant legislative and regulatory developments that continue to impact IRAs?
As Baby Boomers reach retirement age, banks will see an increase in IRA portfolio balances and should be prepared to serve as IRA trustees. Though many financial organizations act as an IRA trustee or custodian, most are challenged with staying in front of the complex rules and regulations and often overlook the impact changes have on operating systems, procedures, and transaction documents.
In this podcast episode, “Update and Current Status of IRAs: What Has Changed and What You Need to Know,” Wolters Kluwer Vice President of Banking Compliance Solutions Samir Agarwal is joined by Michael Schiller, Manager of Specialized Consulting for Tax-Advantaged Accounts with Wolters Kluwer’s Compliance Center of Excellence, discuss how current rules, including the SECURE Act and the CARES Act, impact IRAs. Samir and Michael will also walk us through the legislative provisions and describe their impact and share practical guidance on managing tax-advantaged accounts and adapting banking processes and client outreach in the current environment.
If you have questions about how we can help you better serve your tax-advantaged account customers during the pandemic, please post them in the comments section of this podcast! Add our podcast series to your playlist today.
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Product Highlights from the Podcast:
1. Wolters Kluwer Tax-Advantaged Accounts Solutions – Make managing your IRA, HSA, CESA, and other tax-advantaged accounts programs a breeze. Request more information. https://bit.ly/34pyeWl
2. IRA Consulting Services - We’re ready to answer questions, assist with reporting requirements, and explain regulatory changes. Get started today! https://bit.ly/2HnEGEo
3. IRA Training - https://bit.ly/31znOS5
4. IRA Documents - https://bit.ly/3mg2bhB
5. Account Record-Keeping - https://bit.ly/3dMJyyC
6. IRA to IRA Rollovers - https://bit.ly/37wrGXO
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DISCLAIMER: The information and views outlined in this Wolters Kluwer Financial Services’ communication are general in nature and are not intended as legal or professional advice. Although based on the law and information available as of the date of publication, general assumptions have been made by Wolters Kluwer Financial Services that may not take into account potentially important considerations to specific businesses. Therefore, the views and information presented in Wolters Kluwer Financial Services’ communication may not be appropriate for you. Readers must also independently analyze and consider the consequences of subsequent developments and/or other events. Readers must always make their determinations in light of their specific circumstances.