| Topics | Time | Key Discussion Points |
|---|---|---|
| Retirement account planning map | 10 minutes | Account categories, terminology, and advisor roles |
| Traditional IRA eligibility and deductibility | 20 minutes | Contribution eligibility, active-participant rules, and spousal IRAs |
| Roth IRA contribution rules | 15 minutes | Income eligibility, filing status, and correction options |
| Nondeductible basis and aggregation | 20 minutes | Form 8606, pro rata rule, and future planning effects |
| IRA Contribution Planning Case Studies | 20 minutes | The impact of choosing one type of contribution over another |
| Identifying IRA Excess Contributions | 20 minutes | What creates an excess contribution. |
| Excess contributions corrections | 15 minutes | Correction paths, excise taxes, and documentation |
Retirement account planning map
IRA versus employer plan terminology
Contribution rules versus deduction rules versus distribution rules
Roles of the advisor, custodian, employer, tax professional, and attorney
Traditional and Roth IRA contributions
Compensation requirements and spousal IRA rules
Active-participant status and deductibility
Roth income eligibility and filing-status restrictions
Contribution deadlines, extensions, and year designation
Nondeductible basis and Form 8606
How basis is created and tracked
IRA aggregation
Pro rata taxation and the December 31 measurement
Correcting missed or inaccurate basis reporting
Excess contributions and corrections
Return of contribution
Application to a later year
Recharacterization of eligible contributions
Excise tax exposure and reporting
The couple determines which contributions each spouse may make, whether a contribution is deductible, and how prior nondeductible contributions affect basis.
IRA contribution eligibility and deductibility matrix
Client contribution-documentation checklist
Three rules participants should remember
Three mistakes advisors should recognize
One client file or workflow participants should review immediately
Preview of the next stage in the retirement account lifecycle
Learning Objectives
• Compare Traditional and Roth eligibility, funding, and tax-treatment rules.
• Determine whether an IRA contribution is permitted, deductible, nondeductible, excess, or subject to correction.
• Calculate and document nondeductible IRA basis and explain its effect on future conversions and distributions.
• Diagnose common IRA funding errors and identify the appropriate correction path.
• Apply contribution rules to married couples and clients participating in employer plans.
