Over the last few days, Vanguard investors are dealing with website downtimes that have prevented some customers from completing trade confirmations or certain forms.

For those who make year-end transactions such as required minimum distributionsAs there is a 50% penalty for missing the deadline. 

Dan Wiener (co-editor, The Independent Adviser For Vanguard Investors) said that people are often frustrated. “When you look for information it is not available.”

The 2021 deadline is Friday, December 31. This includes RMDs, retirement plan contributions and tax-loss harvesting.

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Customers log in, however, to perform year-end transactions and check mutual fund payoutsMany are unable to find the information they need and have difficulty reaching phone support.

Wiener stated, “This needs to be the worst week ever in the year for such a thing to happen.”

Vanguard was made aware by a vendor third-party to mail and process checks. A spokesperson for the company said that clients might experience delays in receiving their statements or not be able access some forms, confirmations, and other information. 

According to the company, “Our teams are working round the clock on this problem and our customer service representatives can help clients who need immediate assistance.” 

Over the last 24 hours there have been numerous reports of Vanguard outages according to DowndetectorA website that tracks real-time service problems.

Wiener stated, “There is nothing that you can do right now except to wait on the telephone.”

Missing the deadline to submit RMDs for the year may cause nerves. It is possible to still avoid the penalty of 50% by correcting the error and applying for a waiver. according to the IRS.

First, you need to take the RMD from every account as quickly as possible. Next, you will need to file. Form 5329Ask for penalty relief

Instructions for Form 5329 can be followed line by line hereYou can either consult with a professional tax advisor to prevent mistakes.

An IRS letter explaining your “reasonable error” along with steps to remedy it is suggested.