Once you reach age 72, the government requires that a specific minimum amount be withdrawn from your retirement account each year.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 guidance on how to fix a missed RMD, click here to download more information.
For professional assistance with your RMD calculations and distribution requirements, contact our office at 877-714-2362 to schedule a time to discuss your needs.
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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