Starting in the year you turn 70 1/2, the IRS requires that you take a Required Minimum Distribution from tax-deferred accounts like 401(k)s and IRAs.
Missing a payment or not taking the minimum distribution carries a 50% penalty for the RMD not taken!
Our What is Your RMD? guide includes answers to many common questions like:
- Why is this a requirement?
- When do I have to take my first distribution?
- How do I calculate my RMD?
- What type of accounts are included in the RMD requirement?
- If I’m still working at 70 ½, do I have to take an RMD?
- Do I have to withhold Federal and State taxes?
We’ll guide you through all you need to know about your RMD.
