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SDBA 2018 IRA School - Sioux Falls
Clubhouse Hotel & Suites
2320 S Louise Ave
Sioux Falls, SD 57106
United States
Wednesday, September 05, 2018, 8:00 AM to Friday, September 07, 2018, 5:00 PM CDT
Category: SDBA Events


September 5 - 7, 2018
Clubhouse Hotel & Suites
Sioux Falls, SD   

About the Program

IRAs continue to be an essential part of a person’s retirement planning. IRA rules are always changing, and more changes are expected in the near future. It is important to be informed and prepared. The South Dakota Bankers Association (SDBA) is offering its 2018 IRA School Sept. 5-7 at the Clubhouse Hotel & Suites in Sioux Falls, S.D.


Registration Fee

$695 per person (includes school program, instruction materials, lunches and breaks)

Why Attend

  • You can attend as many one-day IRA seminars as you want, but it will not equal what is covered in a three- day IRA school.
  • This is the most comprehensive IRA course offered.
  • Learn new rule changes and reinforce existing rules.
  • Learn what it means to be in or out of compliance.
  • Explore all topics in-depth.
  • Ask questions, share with peers and hear real case problems.

Bring To Class

Please bring IRA vendor forms, plan agreement, contribution form, distribution form, transfer request, direct rollover request, rollover certification, 70.5 election form, waiver form, beneficiary plan agreement, beneficiary elections, beneficiary contribution and beneficiary distribution form.


Who Should Attend

  • New Staff: Quickest, easiest, most comprehensive way to train new staff in IRAs and HSAs.
  • Experienced Staff: Thorough, comprehensive program covers new and current materials and transactions that occur infrequently.
  • Compliance Officers and Internal Auditors: They manage the IRA department but are not always directly involved with the day-to-day of IRAs. This school can give them a better understanding of how IRAs work and how important it is to be in compliance.
  • You may have attended previous IRA schools, but you will still benefit from attending this school because of the changes in retirement programs, the complexity of IRAs, the quantity of information and reinforcement of existing rules and procedures.

Basic Agenda

  • Overview of IRAs
  • Procedures to establish IRAs
  • Plan agreement changes
  • IRA amendment update
  • Setting up and organizing your files (self audit)
  • Contribution rules
  • Tax benefits
  • Bankruptcy Bill
  • Saver’s Tax Credit
  • Administering distributions: before age 59.5 and after age 59.5
  • FDIC IRA and Inherited IRAs
  • Substantially equal periodic payments
  • Transfers, rollovers and direct rollovers
  • Recharacterizations (changed Jan. 1, 2018)
  • Excess contributions (additional emphasis)
  • Taxation of distributions from the Traditional IRA and the Roth IRA
  • IRA tax losses
  • RMD rules for accountholders and beneficiaries
  • Conversions (changed Jan. 1, 2018)
  • Reconversions
  • IRS reporting: 1099-R and 5498
  • Procedure to correct previous year’s 1099-R and 5498 forms
  • SEP-IRAs
  • HSAs
  • Marketing opportunities for IRAs

New or Proposed Changes

New in 2016

  • 60-day exceptions self-certification
  • SIMPLE-IRA changes
  • Changes in IRS reporting penalties
  • Changes to 59.5 exceptions

New in 2017

  • Changes to the reporting on 5498 and 1099-Rs

2018 Proposals

  • Allowing 60-day rollover of inherited IRAs
  • Changing all life expectancy tables
  • Contribute into a Traditional IRA after age 70.5
  • Changing RMD age from 70.5 to 73
  • No mandatory RMD if balance is under $250,000

Daily Schedule

8:15 a.m. Coffee/Rolls (welcome first day)
8:30 a.m. Session Starts
12 noon Lunch
1 p.m. Session Resumes
4:45 p.m. Sesson Ends


About the Instructor

Mike Nelson taught marketing for 14 years at Central Lakes Community College in Brainerd, Minn., before starting JM Consultants. He has conducted insurance, real estate and securities training seminars and developed financial training services for financial institutions. JM Consultants offers all IRA products and services.


The school will be held September 5 - 7, 2018, at:

Clubhouse Hotel & Suites
2320 S. Louise Avenue, Sioux Falls
Phone: 605.361.8700


This school has applied for continuing education credit from the South Dakota Division of Insurance. It has not been pre-approved for ICB CE credits. Attendees who require ICB credits should visit client/aba/default.aspx.


For more information contact Halley Lee, SDBA, at 605.224.1653, 800.726.7322 or [email protected] or Mike Nelson at 218.831.1858 or [email protected]