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For 40 years, The Entrust Group has provided account administration services for self-directed retirement and tax-advantaged plans. Entrust can assist you in purchasing alternative investments with your retirement funds, and administer the buying and selling of assets that are typically unavailable through banks and brokerage firms.

Timely Tips: Upcoming Deadline Dates for Tax Time


Estimated reading time: 2 minutes

This year's tax deadline date is near (April 18th, 2016). If you're self-directed IRA holder, you should know these deadline dates for the month of April that may affect your IRA plan. Read further to learn more about required minimum distributions, IRA, HSA and ESA contributions, excess removal and re-characterization, and a quick reminder about annual account statements:




Required Minimum Distributions

If you are a Traditional IRA holder who has reached the age of 70 ½,you must withdraw a minimum distribution by December 31st every year. The amount of your required minimum distribution (RMD)  is calculated using a table created by the IRS. If you take less than the RMD, the difference will be subject to a 50% penalty.  If you reached age 70 ½, in 2015 and have not taken your RMD, you have until April 1st, 2016 to do that.

IRA, HSA and ESA Contributions

2015 contribution for Traditional IRA, Roth IRA, HSA and ESA must be made by April 18th, 2016.  IF you mail your contribution, it must be postmarked by that date to be considered timely.  The IRS also accepts delivery by other delivery services, including UPS, DHL, FedEx, and other major carriers.

Excess Removal and Re-characterization

The deadline to remove an excess IRA contribution or to re-characterize a contribution or and earnings for the 2015 tax year is April 18th, 2016. If you filed your 2015 tax return on time, you get a six-month extension to remove an excess contribution or to re-characterize a contribution. That extended deadline is October 17th, 2016.

Annual Account Statement IRA form 5498, 5498-ESA and 5498-SA

You will continue to receive reports from the firms where you have your tax-advantaged accounts. There’s nothing you have to do by these dates, but keep your eyes open for these 2015 statements:

  • Annual IRA Account statements sent by May 31th,
  • Coverdell 5498-ESA statements should be received by May 2nd
  • HSA annual account statements should be received May 31st


Please subscribe to our email updates to keep up-to-date with self-directed IRA deadline dates. You can do so by filling out you email address in the form at the top right of this page. For additional educational resources, please visit our Entrust Learning Center today. Click below to take a tour!


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Self-Directed IRAs:
The Basics Guide

Learn about your investment options, Self-Directed IRA rules, and much more!

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