IRA Deadlines Are Near…

September 30th

  • Deadline to determine the designated beneficiaries for an inherited IRA.

October 1st

  • Deadline to establish a Simple IRA Plan.

 

October 15th

  • Deadline to recharacterize your excess or unwanted 2016 IRA contributions.
  • Deadline to correct any excess 2016 Health Savings Account contributions.

October 31st

  • Deadline to submit a copy of all qualified trust documentation to the IRA trustee, custodian or administrator when a trust is the beneficiary of an inherited IRA

Source: www.irs.gov

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Rolling Over an RMD

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Tapping Into Retirement Accounts If Not Directly Impacted By COVID-19

The recently-­‐enacted Coronavirus Aid, Relief, and  Economic Security Act (CARES  Act) signed by President Trump  on  March  27, 2020, allows  “qualified individuals” to take up  to  $100,000 of  penalty-­‐free IRA and company plan withdrawals during 2020. “Qualified individuals” include those who are (or whose family members are) sickened by the virus or who have virus-­‐related

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