Certified IRA Services Professional (CISP)

Why pursue your CISP designation? Consider these professional benefits and values of certification: Career Enhancement Differentiate yourself with a credential that sets the standard of professional expertise for IRA services in the wealth and trust industry. Learn more about the value of certification to you and your institution. Continuing Education (CE) Database CISPs can identify relevant professional development options quickly and easily with the Certification Manager, which highlights programs that have been approved for CE credit. To earn the Certified IRA Services Professional (CISP) designation, candidates must: Meet the eligibility requirements; Submit completed application and fees for desired exam date; Pass the CISP examination. Requirements You must meet the following eligibility requirements by the time that you take the exam. ABA will accept your application with education/training that is scheduled to be completed by your exam date. ABA certifications are based on U.S. laws and regulations. To be eligible, candidates must have U.S.-based experience to satisfy the experience requirement. Approved candidates may take the exam at U.S. test sites or via live remote proctoring. Experience Tiers The educational requirements to qualify for certification vary on the number of years of experience you have in the field. Option One: 2+ Years of Experience Option Two: 4+ Years of Experience Professional Experience The ideal CISP exam candidate will have operational and technical experience working with all aspects of IRAs, not just one functional area. Areas include: Legislation – understanding what IRA changes were brought about by certain legislative acts IRA Document requirements and content Traditional & Roth IRA Contributions Eligibility Contribution Limits Roth IRA modified adjusted gross income (MAGI) limits How to determine Traditional IRA deductibility Experience with processing other types of IRA transactions such as – recharacterizations and contributions Excess Contribution withdrawals Beneficiary Designations Differences between primary and contingent beneficiaries Determination of recipients at time of IRA owner’s death The purpose of naming various types of trusts as a beneficiary Estate planning considerations Beneficiary Distributions Options available to various types of beneficiaries Calculation of required payments Distribution and RMD processing and calculations IRA Portability Required Reporting to IRA Owner and IRS IRS Penalties on IRA owners and IRA Trustees and Custodians Simplified Employee Pension (SEP) Plan eligibility and operational requirements Savings Incentive Match Plans for Employees of Small Employers (SIMPLE) IRA Plan Eligibility and Operational Requirements Ethics Statement Each candidate must sign ABA Professional Certifications' Code of Ethics statement. Please note: you must furnish all pertinent information about any convictions or pleas of nolo contendere on the grounds of fraud, embezzlement, unfair or deceptive practices, securities law violations, misappropriation of property, fraudulent conversions or any civil or administrative action from which you have been previously found liable.