IRA Continuing Education - IRA Account CE Course

Use the following links to online CE Course information for IRA Accounts to complete continuing education training requirement for Series 7, Series 6, Series 24, Insurance license or other.

Sample:

Funding Options for a Trust or Custodial Account
Some of the nonannuity products that are normally used to fund individual retirement accounts through a custodial account include

mutual funds,
certificates of deposit and other traditional savings vehicles,
stocks,
bonds, and
certain gold and silver coins.
As we can see, there are many funding vehicles available to the IRA owner. In fact, it is easier to identify those investments that are not approved as IRA funding vehicles than to specifically list those that are. The savings and investment products which are specifically prohibited as IRA funding vehicles are

life insurance, and
collectibles, such as antiques, artwork, etc.
Understand that the other tax benefits normally associated with certain growth-oriented investments such as stocks and coins are lost when those investments are used to fund an IRA. Specifically, the growth in value of stocks and coins is normally associated with a gain in its value, rather than with dividends or interest. That gain could enjoy capital gains tax rates if the investment were not a part of an IRA. If an individual places IRA funds in investments normally eligible for capital gains treatment, any gains lose their identity as capital gains and are subject to taxation at ordinary income tax rates when distributed from the IRA.

When a trust or custodial account is used rather than an annuity, custodial fees normally must be paid each year or deducted from the account value. If these fees are separately billed by the trust and paid by the IRA owner, they may be claimed as an itemized miscellaneous deduction on the individual’s tax return. Furthermore, they will not be considered an excess contribution or reduce the amount which may be contributed to the IRA. In other words, an IRA owner may make his or her maximum IRA contribution and pay a custodial fee that might be $50 and deduct the entire amount.

This course qualifies for CE course credit in all 50 states.

FINRA License CE Course