Whether you’re just getting started or you’ve been investing with a self-directed account for years, being aware of upcoming tax dates and deadlines should help you stay ahead in the 2022 tax year.
JANUARY 31
Digital Trust mails all account owners the following:
- Forms 1099-R, 1099-INT, 1099-Q, and 1099-SA (as applicable)
- 2021 Annual Account Statements
- Notice for Required Minimum Distributions (“RMD”) for Traditional, SEP, and SIMPLE IRA clients age 72 or older
MARCH 15
- Deadline for Partnership LLC and S Corps to set up and contribute to a Solo 401(k)*
MARCH 31
- Digital Trust electronically files the Forms 1099-R, 1099-INT, 1099-Q, and 1099-SA (as applicable) with the IRS
- Last day to request corrections to your Annual Account Statement
- Completed Fair Market Value (FMV) Forms and supporting documents due to Digital Trust for updates/corrections
APRIL 18
- IRS deadline to make contributions to your IRA for the prior year (Individuals in Maine and Massachusetts will have until April 19)
- Deadline for Single LLC and C Corps to set up and contribute to a Solo 401(k) for 2021**
MAY 31
- Digital Trust electronically files Form 5498 and 5498-SA (as applicable) with the IRS and mails Form 5498 and 5498-SA to Account Owners/ Beneficiaries
SEPTEMBER 15
- Contribution recharacterization requests due to Digital Trust
OCTOBER 17
- IRS deadline to remove excess IRA contributions that occurred in the prior year (For IRA owners who timely filed their federal income tax return or otherwise received an extension of time to file)
DECEMBER 1
- Completed Fair Market Value Form requests due to Digital Trust for guaranteed processing for 2022 annual statements
DECEMBER 15
- Completed RMD requests due to Digital Trust for guaranteed processing for In-Kind RMD requests
DECEMBER 19
- Completed RMD requests due to Digital Trust for guaranteed processing for cash RMD requests
If you have IRA questions, or simply want to learn more about how you can get started investing with a self-directed IRA, our team of experts are here to help. Call us today at (800) 777-9878 or email us at [email protected].
Disclaimers
*If you request and receive an extension, you may have until September 15, 2022, or until you file your taxes.
**If you request and receive an extension, you may have until October 17, 2022, or until you file your taxes.
Please note: If a plan is adopted in 2022 for 2021 you cannot make pre-tax or Roth deferrals, but you can still make employer contributions.
