Fixing a Missed RMD in 5 Easy Steps
Once you reach age 70½ , the government requires that a specific minimum amount be withdrawn from your retirement account each year.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 703-466-0477 to schedule a time to discuss your needs.
Securities offered through Triad Advisors, Inc. LLC. Member FINRA/SIPC.
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