Individual Retirement Arrangements (IRAs)

Exam Questions: 40
Course Level: Basic
Pages: 240 | Content: 200, Supplemental: 40
NASBA Area of Study: Taxes
Not Acceptable for: N/A
Version: 5175U

This course provides an understanding of the various individual retirement arrangements. It covers traditional IRAs, Roth IRAs, Simplified Employee Pensions (SEPs), and Savings Incentive Match Plans for Employees (SIMPLEs). It explains the rules for setting up an IRA, contributing to an IRA, transferring money or property to and from an IRA, handling an inherited IRA, making withdrawals from an IRA, receiving distributions from an IRA, and taking a credit for contributions to an IRA. It also explains the penalties and additional taxes that apply when the rules are not followed. To assist in complying with the tax rules for IRAs, this course contains worksheets, sample forms, and tables, which can be found throughout the course and in the appendices in the back. All course material provided. No prerequisites. Course level: Basic.

EA Program Approval Number: ZX34G-T-00527-23-S

Choose Your Format to ADD TO CART:

Go to CART

Course Information

Table of Contents
  • Introduction
  • Traditional IRAs
  • Roth IRAs
  • Simplified Employee Pension (SEP)
  • Savings Incentive Match Plans for Employees (SIMPLE)
  • Retirement Savings Contributions Credit (Saver's Credit)
  • Disaster-Related Relief
  • To identify the changes related to IRAs for 2022 and 2023
  • To recognize the characteristics of the traditional IRA and the advantages and disadvantages of this type of arrangement
  • To recognize what a Roth IRA is, who qualifies to make contributions to it, and the advantages and disadvantages of using it for retirement
  • To recall how a SEP can be used by employers, including self-employed individuals
  • To recognize what a SIMPLE plan is, what contributions can be made to it, and the consequences of distributions taken from the plan
  • To recognize the eligibility standards for taking the retirement savings contributions credit
  • To recognize the impact of compounding
  • To identify the disaster-related relief limits

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.