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SDBA 2020 IRA School - Sioux Falls
Tuesday, September 29, 2020, 8:00 AM to Friday, October 02, 2020, 5:00 PM CST
Category: SDBA Events

SDBA 2020 IRA School

September 29 - October 2, 2020
Holiday Inn Express Airport
2040 W Russell St
Sioux Falls, SD 

*Sessions will also be live-streamed and recorded to be watched at a later date.



December 20, 2019 | SECURE Act “Retirement Tax Bill”
signed into law—most sweeping changes since 2006

March 27, 2020 | CARES Act passed

The SECURE Act impacts two main topics: RMDs and death distributions. The SDBA’s 2020 IRA School on Sept. 29 to Oct. 2, which will be offered live in Sioux Falls and virtually, will address these relevant changes. In addition, IRAs are one of the most complicated areas of bank personnel responsibility, and it is not possible to learn and understand everything. Continual education is necessary to ensure confidence. Working with IRAs is a process and must start with a strong foundation. This school can provide this foundation through a comprehensive curriculum.


Who Should Attend: Days 1 - 3

For new IRA and experienced staff, this program is the quickest, easiest and most comprehensive coverage of IRAs and HSAs. Days one to three of the school will cover new and current IRA material, and previous topics covered at the school will be expanded.

Septemeber 29 - October 1 Agenda

Overviews of IRAs

  • Procedures to establish IRAs
  • Bankruptcy & IRAs
  • Saver’s tax credit
  • IRA transfers vs rollovers
  • QRP direct rollovers vs indirect
  • Conversions
  • Taxation vs penalty tax
  • Trusts as a beneficiary
  • HSAs

Topics SECURE Act Affects

  • Plan agreement changes
  • Amendments
  • Contribution rules
  • Pre-59.5 exceptions
  • RMD rules
  • Death distributions
  • Beneficiary options

SECURE Act Covered in Complete Detail

  • Changes to contributions eligibility
  • RMDs
  • Death distributions
  • Additions to pre-59.5 exceptions
  • Possible tax credits
  • Amendments plan agreements, plus more

Who Should Attend: Day 4 (optional)

This program is for anyone who is involved indirectly or directly in IRA operations, reporting, auditing or compliance and covers how the SECURE Act will affect bank operations. Attendees will work on actual case problems.

October 2 Agenda

Excess Contributions

  • Causes
  • How to correct
  • Reporting


  • What are they
  • Procedure
  • Reporting

Withholding Reminder Notices

Reporting: Year of Death & Year After Death

SECURE Act Requirements

  • Changes in forms
  • Explanation of amendment process
  • Change RMD letters
  • Beneficiary options


  • Reporting procedures for rolling RMDs back into an IRA
  • Reporting of 2019 IRA contributions
  • Explanation/handling of COVID-19 distribution rules

5498 & 1099 Correction Procedures

Trust Issues

Case Problems

* Life expectancy tables will be changing Jan. 1, 2021. How will that affect existing accounts?

  Please Bring To Class    
  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 Distribution Form
RMD Letter
Withholding Reminder Notice


Registration Fees

Fee for Attending Live In-Person

(Includes school program, instruction materials, lunches and breaks.)

Full School (days 1 - 4): Member $1,000 per person / Nonmember $1,050 per person
Days 1 - 3 Only: Member
$725 per person / Nonmember $775 per person
Day 4 Only: Member
$275 per person / Nonmember $325 per person

Fee for Attending Virtually

(Includes school program and instruction materials.)

Full School (days 1 - 4): Member $900 per person / Nonmember $950 per person
Days 1 - 3 Only: Member
$650 per person / Nonmember $700 per person
Day 4 Only: Member
$250 per person / Nonmember $300 per person

Daily School Schedule

7:00—8:00 a.m. Registration/Continental Breakfast
8:15—8:30 a.m. Welcome
8:30 a.m.—noon Session
Noon—1:00 p.m. Lunch Provided
1:00—4:45 p.m. Session

About the Instructor

After teaching sales and marketing for 14 years at a community college, Mike Nelson started his own training company where he conducted insurance, real estate and securities training seminars. He currently develops financial training services for financial institutions nationwide.


The school will be held September 29—October 2, at:

Holiday Inn & Suites Sioux Falls Airport
2040 W. Russell St., Sioux Falls
Phone: 605.331.2040

If you require overnight lodging, contact the hotel to make your reservation by Aug. 29, at which time the block will be released. Ask for the SDBA rate of $124.

The health and well-being of our members is of utmost importance to the SDBA. Social distancing will be implemented at this event, and the use of masks is strongly recommended. We will continue to work closely with the South Dakota Department of Health and the Sioux Falls Health Department to monitor COVID numbers and will adjust accordingly should the need arise.

Virtual Option

In addition to the school being held live in Sioux Falls, sessions will also be live-streamed and recorded to be watched at a later date. If you are not comfortable attending in person, simply choose to participate virtually, and you can attend from the comfort of your home or office. When registering for this event, select either attending live in-person or attending virtually.


This school has applied for continuing education credit from the South Dakota Division of Insurance. In order to comply with South Dakota Division of Insurance’s requirements for continuing education credits, we will be verifying attendance throughout the course of this training through visualization, polling and other methods.

This school has not been pre-approved for ICB CE credits. For ICB credits, visit https://aba.csod.com/client/aba/default.aspx.


Business casual is recommended for all sessions. Layered clothing is recommended for your comfort.

Special Requests

If you have any special requests, please contact Halley Lee at 605.224.1653 or [email protected] by Sept. 22.


For questions, contact Halley Lee with the SDBA at 605.224.1653 or [email protected] or school instructor, Mike Nelson, at 218.831.1858 or [email protected].