Important Retirement Account Deadlines are Fast Approaching

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There are a few upcoming deadlines that may apply to you or your retirement accounts. If you have questions about these dates, please feel free to contact us or your tax professional.

September 30th:

  • Last day to pay off (or cash out) a beneficiary of an account so that he or she will not be considered when calculating required minimum distributions or RMDs from an inherited IRA.

October 1st:

  • Important period begins for employers with SIMPLE IRA plans; new plans must be established (with exceptions) and deferral notice must be given to eligible employees, as well as notice of employer match.

October 15th:

  • Last day to remove 2011 IRA excess contributions.
  • Last day for recharacterizing a 2011 Roth conversion.

December 31st:

  • Required Minimum Distribution (RMD) must be taken for those over the age of 70½, as well as for IRA beneficiaries of deceased IRA holders. The IRS has a section dedicated to RMDs which can be found here.
  • Last day to make Roth conversions that will count toward 2012 taxable income.

 

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Heather Gudac

Heather is our Chief Operating Officer and partner with the firm. Heather is responsible for overseeing operations across our firm to enhance the quality of our client relationships. She began her career with Financial Symmetry in 2006 as an intern and became a shareholder in 2013.

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