Answer - Question 2 - Rollover and Direct Transfer Webinar

           You have just received a check made payable to “Your Credit Union for benefit of John Doe’s Roth IRA.”  It is coming from ABC Credit Union and John has indicated it was from his Roth IRA there.  What type of transaction is this?

  

      Direct Transfer

 

 

Answer - Question 1 - Rollover and Direct Transfer Webinar

1)    Your member, Paul, enters the credit union and tells you that he wants to transfer $14,000 from his share account into his IRA.  After talking to Paul, he indicates he originally received these funds last month from his 401(k) plan at work.  What type of transaction is this?

 

QRP Rollover

Rollovers and Direct Transfers Webinar - Question 2

           You have just received a check made payable to “Your Credit Union for benefit of John Doe’s Roth IRA.”  It is coming from ABC Credit Union and John has indicated it was from his Roth IRA there.  What type of transaction is this?

Rollovers and Direct Transfers Webinar - Question 1

1)    Your member, Paul, enters the credit union and tells you that he wants to transfer $14,000 from his share account into his IRA.  After talking to Paul, he indicates he originally received these funds last month from his 401(k) plan at work.  What type of transaction is this?

Answer - Question 3 - Roth IRA Distribution Webinar

What are the four qualified reasons for taking Roth earnings tax-free?

Age 59 1/2, disability, death (payments to a beneficiary), first-time home purchase

Answer - Question 2 - Roth IRA Distributions

Becky, 62, opened a Roth IRA with a conversion contribution in 2002.  She also made a regular contribution on March 28, 2002, that she attributed to 2001.  On what date will Becky have met the five-year test?

January 1, 2006

Answer - Question 1 - Roth Distributions Webinar

What type of IRA offers the possibility for tax-free earnings upon distribution?

Roth