Mark your calendar with these important financial deadlines

Woman writing down important financial dates in her calendar.

If you’re like most, calendars tend to fill up fast. Here’s a few important dates that you may want to add to your 2019 reminders.

  1. January

    Your W-2 should be available this month so get a jumpstart on tax season by organizing your tax documents.

    If you're 50 or older, you are eligible to make catch-up contributions.

  2. February

    New year’s goals made easy. Take a few simple steps each month to get your 2019 financial plan in order.

  3. March

    Are you or someone you know on Medicare? March 31 is the last day to apply for Parts A & B. Coverage begins in July. Learn more or get enrolled at medicare.gov.

  4. April

    It’s not too late to have Individual Retirement Account (IRA) contributions benefit your 2018 taxes. Previous year IRA contributions made before April 17, 2019 can still impact your 2018 tax filings.

    Got your taxes done in time for the Federal deadline? Good work.

    • Remember it’s also the deadline for your 1st quarter 2019 estimated Federal tax payment (if you file them).
    • And the last day to max out your IRA contributions.
       

    Need more time to file your taxes? Send IRS Form 4868 (PDF) by April 15 to get an automatic 6 month extension to file. The extension pushes the filing deadline back to October 15, 2019.

  5. May

    Try to check your bank account at least once a month. This is a good way to keep track of your spending and make sure there’s nothing fishy with your account. Check out some other simple steps to protect your accounts.

  6. June

    Have a loved one attending college soon? The deadline to file a Free Application for Federal Student Aid (FAFSA) form depends on the state you live in, look up your deadline. The FAFSA is required to access any federal aid.

  7. July

    Families may be able to use funds from 529 plans for students attending private elementary and secondary school.

    Funding now for the upcoming school year may help your future tax tab. Some states even offer a state tax deduction for your contributions. Be sure to check out the rules for your state’s plan.1

  8. August

    Three times a year you can check your credit score for free using Equifax, Experian and TransUnion.

  9. September

    Enrollment period for employer benefits is October 1 – November 1, so now is a great time to evaluate your options for the upcoming year:

    • Review your health election, 401(k), and other employee benefits to see if they are still meeting your goals.
    • Make a plan to use any Flexible Spending Account (FSA) funds for qualified medical expenses by the end of the year. FSA money doesn’t roll over to the next year.
       

    Consider maxing your funding for:

    • Your IRA
    • Your Health Saving Account (HSA) by the end of the year. HSAs roll over each year.
  10. October

    If you or someone you know is attending college, October 1 is the first day to file FAFSA for the 2020-2021 school year.

    As we enter the time of year for giving, consider how charitable contributions could impact your taxes.

  11. November

    If you graduated college this past May, student loan payments generally kick in about 6 months after graduation. Check out these tips to help manage student loan debt.

  12. December

    Plan for Required Minimum Distributions (RMDs):

    • Visit with your tax advisor or financial professional about RMDs if you turned age 70½ during the year, as you may need to make a 2nd one before the new year.
       

    Check (and update) the beneficiaries you have listed on your investment accounts, insurance policies, estate plans, and/or will.

Are you turning 65 this year? How about 70½?

  • When you’re celebrating your big day don't forget about looking into Medicare enrollment. You should do this within 3 months of your birthday. Visit medicare.gov to see the specific deadlines and get enrolled.
  • You may need to take your first RMD this year—congratulations! Check with your tax advisor or financial professional to know more about RMDs.

Depending on your state of residence, there may be an in-state plan that provides state tax and other state benefits, such as financial aid, scholarship funds, and protection from creditors, not available through other resources. Before investing in any state’s 529 plan investors should consult a tax advisor.

If withdrawals from 529 plans are used for purposes other than qualified education expenses, the earnings will be subject to a 10% federal tax penalty in addition to federal and, it applicable, state income tax.

An investor should consider the investment objectives, risks, and charges and expenses associated with municipal fund securities before investing. More information about municipal fund securities is available in the issuer's official statement. If the advertisement identifies a source from which an investor may obtain an official statement and the broker, dealer or municipal securities dealer that publishes the advertisement is the underwriter for one or more of the issues of municipal fund securities for which any such official statement may be supplied, such broker, dealer or municipal securities dealer is the underwriter for one or more issues (as appropriate) of such municipal fund securities. The official statement should be read carefully before investing.

The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, or tax advice. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements.

Insurance products and plan administrative services provided through Principal Life Insurance Co. Securities offered through Principal Securities, Inc., 800-547-7754, member SIPC. Principal Life and Principal Securities are members of Principal Financial Group®, Des Moines, IA 50392.