5 Key Year-End Retirement Account Deadlines To Consider
With the busy holiday season approaching, don’t let these important year-end retirement account deadlines get past you.
Missing these deadlines can be costly – possibly resulting in stiff penalties or the loss of valuable tax breaks.
Here are five key year-end retirement account deadlines to consider:
1. Take the 2017 Required Minimum Distribution (RMD) from both your IRAs or inherited IRAs.
Traditional IRA owners, including SEP and SIMPLE IRA, who reached age 70½ prior to 2017 must take their Required Minimum Distribution by December 31, 2017. If you turned 70½ during 2017 you get a little bit of a break the first year and you have until April 1, 2018 to take your first RMD. Generally, these deadlines also apply to company plan participants unless you are working for a company and own less than 5% of that company, then your RMD will be delayed until April 1st of the year following the year of retirement.
2. Complete your 2017 Roth Conversions.
Read the rest of our 5 key year-end retirement account deadlines to consider here.