Important IRA Dates

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2010 Roth IRA Conversion

Does a Roth Conversion make
sense in your retirement plans?

Find out if a conversion
is right for you

Do you currently have an IRA? Are you looking to open one? If so, you will want to get the facts and be mindful about when and how much you can contribute and convert throughout the year. Contribution and conversion timing will affect your taxes and which year you pay taxes on your IRAs.

We’ve made it easy for you to find all of this information in one place, and now we’re making it even easier for you to remember the key contribution and conversion dates with our automated e-mail reminders.

Contribution Limits

This is the maximum dollar amount you can contribute to your IRA in a given year. (If you are 50 and over you can contribute an additional $1.000 to your IRA.)

2010 2011
$5000 $5000

If age 50+ by 12/31/2010
Add $1,000 (catch-up contribution)

Don’t forget to contribute to your IRA!

Sign up for friendly e-mail reminders so you don’t forget
important dates and deadlines.

Sign up for friendly e-mail reminders

 

Important 2011 IRA Dates

January 1, 2011
First day to contribute money to your Traditional IRA or Roth IRA for 2011.

January 31, 2011
Deadline for reporting IRA distributions for 2010.

April 15, 2011
Deadline for making Traditional IRA and Roth IRA contributions for 2010.

September 30, 2011
Last day to designate beneficiaries of an IRA plan if the owner passed away in 2010. Beneficiaries can be removed either by a valid disclaimer or by receiving a full distribution of their inherited funds, but cannot be added.

October 15, 2011
Deadline for re-characterizing 2010 Traditional IRA contributions, Roth IRA contributions and Roth IRA conversions.

December 31, 2011
Deadline for taking 2011 Required Minimum Distributions (RMDs). Individuals attaining age 70 ½ in 2011 may delay taking the RMD until April 1, 2012.

Deadline for distributing or transferring Traditional IRA or SIMPLE IRA assets to a Roth IRA as a 2011 conversion.

Deadline for establishing separate accounts for multiple beneficiaries of account owners who passed away in 2010. Establishing separate accounts allows each beneficiary to use their own single life expectancy for RMD purposes rather than the life expectancy of the oldest beneficiary.

 
For more information, visit www.irs.gov.

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