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2017 IRA Contribution Reminder

A few reminders regarding your 2017 IRA contributions

Note: If you file your tax return prior to making your annual contribution the IRS may require an amended return.

Maximum Annual Contributions (IRAs and Roth IRAs only):
  • $5,500 for tax year 2017 (Roth contributions may be less depending upon income. Please consult your CPA before making your contribution).
  • Age 50+: Catch up contributions of an additional $1,000
Important Reminders When Submitting Your Contributions:
  • Make the check payable to Charles Schwab & Co. + your name and account number. Do not make your check payable to CWM.
  • Put the contribution year on the memo line of the check. This is extremely important since we cannot assume that a contribution check is to be applied to the same contribution year in which it is received.
  • Your contribution must be received by CWM no later than Friday, April 13th to ensure that the check will be processed and placed into your account by the IRS deadline of April 17th (no exceptions).
  • Contributions can be set up to be transferred from an individual, joint, or trust account held at Schwab. If you are interested in this option you can contact us via phone (425) 778-6160 or via e-mail at TaxInfo@CWMnw.com

If you have additional questions about your IRA, Roth IRA, SEP IRA, or SIMPLE IRA contribution amounts contact your CWM advisor or call the office at (425) 778-6160.

Comprehensive Wealth Management, LLC does not offer tax advice. Please consult your CPA for specific tax questions.

This article has been prepared and distributed for informational purposes only and is not a solicitation or an offer to buy any security or investment or to participate in any trading strategy. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed. This information is not intended to be a substitute for specific individualized tax, legal or investment planning advice as individual situations will vary. For specific advice about your situation, please consult with a financial professional. Past performance is no guarantee of future results.

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