CIP Exam Guidelines

The knowledge areas below are the basis for the Certified IRA Professional (CIP) examination.

I. Employer Plans – SEP and SIMPLE (11%)

  1. Eligibility
  2. Contributions
  3. Portability
  4. Distributions
  5. Reporting
  6. Plan establishment and maintenance
  7. Employer tax benefits

II. IRA Documentation and Maintenance Requirements (15%)

  1. Plan establishment and maintenance
  2. IRA disclosure statements and notices
  3. Beneficiary designation
  4. Electronic documentation
  5. Reporting and associated penalties

III. IRA Eligibility and Contribution Requirements (16%)

  1. Contribution eligibility
  2. Deductibility and other tax issues
  3. Excess contributions rules and penalties

IV. Retirement Plan Portability (25%)

  1. Transfers
  2. Rollovers
  3. Conversions
  4. Recharacterizations

V. IRA Distribution Requirements (26%)

  1. General taxation and withholding rules
  2. Required Minimum Distributions (RMD)
  3. Death distribution rules
  4. Penalties and corrective measures

VII. Miscellaneous (3%)