Year-End Planning Checklist

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.