Between the time you learn that an IRA owner has died and the eventual depletion and closing—or moving—of the IRA, there are many steps. Without the proper workflows in place to handle beneficiary claims—especially the more complex ones—the job can be cumbersome and time-consuming. Fortunately, it doesn’t have to be that way.
Are common misconceptions about HSAs stopping your organization from taking advantage of the valuable business opportunities that they bring? Find out how well you know some of the key features of HSAs and how you can get the support you need operate a successful HSA program.
One provision of the recent proposed retirement savings legislation would give employers a tax credit if they automatically enroll employees in their SIMPLE IRA plans at a certain default percentage—but only if their plan documents allow for automatic enrollment. If this became law, would your small business clients be able to take advantage of it?
Like many businesses today, your organization may be experiencing staff changes more frequently than in the past. This creates a need for more efficient training on financial products. Distance learning may be the answer.
Two bills currently on their way through Congress would make major changes to IRAs if enacted. This could create extra work for your organization. But there is a way to avoid the work of implementing the changes and still maintain an up-to-date, compliant IRA program.
No trustee or custodian is exempt from an IRS audit of its IRAs, HSAs, or other savings accounts. Fortunately, there are Ascensus experts who know a thing or two about surviving an IRS audit. As an ERISA consultant, Tammy Schultz conducts onsite compliance reviews to help financial organizations target and clean up any compliance issues with their savings plan programs before the IRS comes calling.
When income tax withholding errors occur or the requirements are neglected, IRA trustees and custodians are at risk for noncompliance, not to mention costly IRS penalties. But there is a simple, more reliable way to control the risk and reduce penalties.
More plan document changes are coming in 2019. If you sponsor 401(k) and profit sharing plan documents, you’ll want to be sure that you didn’t miss any of the 2018 changes and prepare to update your plan documents for 2019.
Helping consumers make more informed decisions about retirement and health savings accounts can lead to more customers and higher retention rates for your organization. Here are a few simple ways to effectively do just that.
The deadline for document providers to submit required documents and fees to the IRS on behalf of their document sponsors for “Cycle Three” restatement is December 31, 2018. Ascensus will work with you and the IRS to timely complete your “Cycle Three” submission.
Offering HSAs will expand your product line, increase your deposit base, and create cross-selling opportunities to give your organization a competitive edge. Find out how Ascensus can help your organization launch and maintain a successful—and compliant—HSA program.
Many challenges come with operating an IRA or health savings account (HSA) program, and compliance errors can occur when opening new accounts, processing contributions and withdrawals, and completing reporting. Ascensus can help you administer these accounts with accuracy and efficiency.
Whether you are a novice, an experienced veteran, or somewhere in between, earning and maintaining a professional certification not only demonstrates your dedication to learning, but also your commitment to developing your career.
Financial organizations are caught off guard when they learn that the IRS is coming in for an audit. Luckily, there are experts like Tammy Schultz, an Ascensus® ERISA consultant, who know a thing or two about surviving (and potentially avoiding) an IRS audit.
Providing employees adequate training to successfully run your IRA, HSA, and Coverdell ESA programs can be difficult because of time constraints, budget, and effective training methods. This is where self-paced training may be a solution.
Maybe you’ve heard thatAscend is the industry’s most comprehensive education conference providing training, certification, and continuing education to financial professionals for more than 30 years. See some of what you’ll get from Ascend through the following top five takeaways as shared by past attendees.
Income tax withholding is a major area of compliance for financial organizations that serve as IRA trustees and custodians. Neglecting any of the requirements can be costly. Unfortunately, there is much confusion about the requirements.
IRA, health savings account (HSA), and education savings account (ESA) administration tasks not only can cause headaches, but sometimes result in compliance errors that cause hefty financial penalties. Here are three important compliance responsibilities to be prepared for in January.