Important IRA Deadlines Are Near

Important IRA Deadlines Are Near

April 1, 2019

  • This is the Required Beginning Date (RBD) for IRA owners who turned 70½ in 2018. IRA owners have until April 1st to take their very first required minimum distribution (RMD) if the owner did not take it last year. Keep in mind that IRA owners who delayed this first RMD will still have to take their 2019 RMD by the annual December 31st deadline.

April 15, 2019

  • For most taxpayers, this is the deadline for making 2018 contributions to a traditional or Roth IRA, HSA and/or ESA.
  • April 15th (plus extensions) is the deadline to remove excess contributions made to your IRA(s) for 2018. Excess contributions must be removed in a timely manner to avoid the 6% penalty tax…. this penalty applies each year the excess amount remains in the IRA!


More Updates


For trusts that inherited an IRA in 2019, an important deadline is approaching. The due date to provide required trust documentation to the IRA custodian to ensure that the longest payout period possible is available for the inherited IRA is October 31, 2020. Generally, only individuals who are named on an IRA beneficiary form can

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The coronavirus-related distribution (CRD) rules for Roth conversions have a gaping hole. An “affected person” (as we have defined in previous blogs), is entitled under the CARES Act to withdraw up to $100,000 from their IRA or workplace retirement plan. A CRD avoids the 10% early distribution penalty for those under 59 1/2, can be

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Rolling Over an RMD

Like most people’s lives, the retirement world is upside down. This is made evident by a single statement: “Required minimum distributions (RMDs) can be rolled over.” Yes, that is the new normal—at least for this year. RMDs are considered the first money out of an IRA and workplace plan. Typically, these dollars are ineligible to

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