Some year-end tax related transactions involve securities and cash.  Such transactions must be completed by December 31, 2015 to be reported on your 2015 tax return.  Check with your financial institution to find out their cut-off dates for 2015.

• Deadline for Required Minimum Distributions (RMDs): Clients who are 70½ or older must take an RMD from their IRA and/or their QRP for the 2015 tax year. All RMDs must be withdrawn by December 31, 2015, with the exception of RMDs for clients who turned or will turn 70½ during this calendar year. These clients may defer their first distribution until April 1, 2016. Deferring the distribution is not always the best choice from a tax perspective. Check with your tax professional to see if you should take such distributions in 2015 or 2016.If you have already taken the required distribution for 2015, no other action is required. December 22 is a frequent cut-off date.  Check with your institution if you need additional time.

You may find it advantageous to take your RMD early in the year or establishing a systematic payment to ensure the annual RMD is satisfied every year. Check with your financial institution for instructions on implementing these alternatives.

• Deadline for Roth IRA Conversions: A Roth conversion form may also need to be submitted before December 31, 2015 to be processed by December 31, 2015. Check with your financial institution to determine the cut-offs and procedures that are required.

• Deadline for Establishing a 2015 QRP: Check with your financial institution to determine the cut-offs and procedures that are required.

• Deadline for Removal of Non-marketable Securities: To have non-marketable securities removed from your accounts by the end of the calendar year there may be a cut-off date. Check with your financial institution to determine the cut-offs and procedures that are required.

• Charitable and Gift Deadlines:
  Check with your financial institution to determine the cut-offs and procedures that are required. 
  

Mutual Funds:
Due to the nature of processing charitable mutual fund deliveries, you should provide the following information with each request:

    Mutual fund symbol or CUSIP
    Number of shares your client would like to donate
    Mutual fund account number at the receiving firm
    Client account number at the receiving firm

Cash delivered via check and/or federal funds wire:
Between accounts at your financial institution:
Stock delivered via the Depository Trust Company (DTC) system:
Additional information for charitable gifts:

Contact the charity to learn what procedures and accounts they have.
Inform the charity what the specific gift will be (cash or securities). Let them know the amount or securities that they will be receiving.  Identify the security (securities) and the number of shares being transferred.