1.1.2 Individual Retirement Accounts (IRA)

This topic provides the highlights for the enhancements applicable for retail accounts and deposits.

US Geography Feature Enhancements

• IRA(Savings) functionality enhanced to support IRA Transfers and Rollovers.
• IRA functionality enhanced to process Required Minimum Distributions (RMD).
• New functionality added to support Coverdell ESA products and account management.
• Updated the Roth plan type value from ROT to RTH in IRA services.
• Renamed the field “Age Cut-off for Contribution” to “Catch Up Contribution Age” in plan configurations.
• IRA contribution and distribution services are enhanced to record multiple contribution codes and distributions codes.
• Introduced a new RESTful API endpoint to support IRA account enquiry (IRA 360).

For more information about the enhancements, refer to Individual Retirement Accounts (IRA)