CIP Exam Guidelines
The knowledge areas below are the basis for the Certified IRA Professional (CIP) examination.
I. Employer Plans – SEP and SIMPLE (11%)
- Eligibility
- Contributions
- Portability
- Distributions
- Reporting
- Plan establishment and maintenance
- Employer tax benefits
II. IRA Documentation and Maintenance Requirements (15%)
- Plan establishment and maintenance
- IRA disclosure statements and notices
- Beneficiary designation
- Electronic documentation
- Reporting and associated penalties
III. IRA Eligibility and Contribution Requirements (16%)
- Contribution eligibility
- Deductibility and other tax issues
- Excess contributions rules and penalties
IV. Retirement Plan Portability (25%)
- Transfers
- Rollovers
- Conversions
- Recharacterizations
V. IRA Distribution Requirements (26%)
- General taxation and withholding rules
- Required Minimum Distributions (RMD)
- Death distribution rules
- Penalties and corrective measures
VII. Miscellaneous (3%)