Once you reach age 72, the government requires that a specific minimum amount be withdrawn from your retirement account each year. If you miss the deadline or don’t take enough, Uncle Sam could hit you with a 50% penalty!
Did you forget to take a required minimum distribution (RMD) from your retirement account? Unsure of how to fix the error? Fortunately, you’re not the first person to forget to take a distribution. There are steps you can take to fix the problem and possibly even get the penalty waived.
For professional assistance with your RMD calculations and distribution requirements, contact our office at 877-714-2362 to schedule a time for a visit.
Click here to view our video course on Income Planning
For more IRA Expertise, contact us!
Walter F. Pardo, Founding Partner
An Ed Slott Master Elite IRA Advisor
22 Church Street | P.O. Box 60 | Liberty Corner, NJ | 07938
Phone (877) 714-2362 | Fax 1 + (908) 325.0008