Year-End Planning Checklist



Holidays can be stressful, but take advantage of any travel delays or down time with a cup of cocoa and go over your year-end financial and retirement planning checklist.

Yes, reviewing this now can save you from tremendous stress down the road.  Here are just a few basic issues that can cause unintended results and penalties if left unchecked:

  • All of my required minimum distributions (RMDs) for 2019 have been satisfied.
  • All of my RMDs from my inherited IRAs, Roth IRAs, or other retirement accounts have been satisfied.
  • All of my inherited retirement accounts using the separate account rule have
    been split.
  • I have conducted a beneficiary review for all my retirement accounts and all of my beneficiary forms are up to date.
  • I have conducted a custodial review and my IRA custodian offers my heirs a Multi-Generational strategy.
  • I have complied with my 60-day rollover deadline.
  • I do not anticipate owing any penalties for IRA errors.
  • I have checked all of my financial statements for accuracy.
  • All distribution or contribution reporting corrections have been made.



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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