A reminder from TD Ameritrade – Monday, October 15, 2018, will mark three important tax deadlines for tax year 2017:
• Final Deadline for Individual Federal Income Tax Returns: the nationwide final deadline for filing an individual federal income tax return (Forms 1040, 1040A, 1040EZ) for tax year 2017 after having filed for an extension.
For more information, go to When, How, and Where to File on the IRS website.
• Removal of Excess (ROE) and Recharacterization Deadline: the processing deadline for tax year 2017 Removal of Excess (ROE) and Recharacterization requests, as per an automatic extension granted by the IRS. We will process all requests received in good order by close of business October 15 on a best-efforts basis; however, please submit all requests as soon as possible to ensure processing for tax year 2017. Any Prior Year Removal of Excess request(s) processed after the deadline will be reported to the IRS as an after-tax filing. Recharacterization requests received after the deadline will not be processed, in accordance with IRS regulations.
Requests must be received in good order for processing.
If a new IRA is being established to facilitate a Recharacterization, the new account forms must be received in good order.
• SEP and SIMPLE IRA Contribution Deadline: the postmark deadline for Qualified Retirement Plan (QRP), Simplified Employee Pension (SEP) IRA, and Employer Savings Incentive Match Plan for Employees (SIMPLE) IRA Prior Year Contributions, as per an automatic extension granted by the IRS.
Requests must be received in good order for processing. If an internal cash transfer is requested to fund a contribution deposit, adequate cash must be available in the delivering account on or before October 15, 2018.
Please note that as per IRS regulations, TD Ameritrade will report SEP and SIMPLE contributions to the IRS based upon the year we receive them. It is up to the employer to designate the appropriate tax year.
Sincerely, John V. Tovar, Managing Director, TD Ameritrade Institutional
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