November 19, 2024
Important Year-end Annuity Tax Reminders
RMD requests must be submitted by Friday, December 13 to process by year-end.
As the year draws to a close, it’s crucial to review your clients’ financial plans, especially if they hold annuities. Year-end tax planning can help them maximize their benefits and avoid potential pitfalls.
Ensure your clients are well-prepared for tax season, focusing on key aspects such as Required Minimum Distributions (RMDs), tax-deferred growth, and potential tax liabilities.
Required Minimum Distributions
2024 tax year Required Minimum Distributions (RMDs) need to be taken by Tuesday, December 31.
The Disbursement team needs all requests submitted by Friday, December 13 to process by year-end.
The IRS may impose a penalty for failure to take RMDs.
More on RMDs –
You can help your clients guarantee a tax-free income tomorrow, with a fixed indexed annuity today.
– Potential for tax-free income at retirement
– No lifetime Required Minimum Distributions
– Create a more tax-efficient asset for beneficiaries
Help Maximize Retirement Income with a Roth Conversion
Cat No 107686
IRA Contributions
Contributions to IRA and Roth IRAs for tax year 2024 can be made up to April 15, 2025.
Keep this in mind for your clients who expect to contribute for tax year 2024 in 2025.
Please note which tax year the contribution should be placed in.
For additional year-end details
