Important 2011 IRA Dates

January 1, 2011

First day to contribute funds to your traditional or Roth IRA for tax year 2011.
For individuals UNDER the age of 50, the maximum contribution amount is $5,000.

For individuals that are 50 or OLDER, the maximum contribution amount is $6,000.

April 1, 2011

Usually the last day for an IRA owner to take the previous year’s Required Minimum Distribution that an individual chose to defer.

For Traditional IRA Owners who reached age 70 1/2 during the previous tax year.

April 15, 2011

Last day to contribute funds to a Traditional and/or Roth IRA for tax year 2010.

For individuals UNDER the age 50, the maximum contribution amount is $5,000.

For individuals AGE 50 or OLDER, the maximum contribution amount is $6,000.

Sept. 30, 2011

Last day to designate beneficiaries of an IRA Plan if the owner passed away in 2010.

Oct. 17, 2011

Deadline for:

1. Re-characterizing 2010 IRA contributions
2. Roth IRA conversions
3. Completing a corrective distribution from an IRA for a contribution for 2010

Dec. 31, 2011

Last day:

1. To convert a Traditional or SEP IRA to a Roth IRA for 2011
2. For processing a Qualified Charitable Distribution (QDC) for 2011

Typically, December 31st of each year is the deadline for:

1. Paying RMDs to Traditional IRA owners who attained age 701/2 in a previous tax year
2. For paying RMDs to beneficiaries who must take a death distribution before

Make sure you’re aware of the current IRA rules to avoid any unnecessary penalties and fees.

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