Fixing a Missed RMD

Written By Louis Orgera

Turning 70 is a big milestone that’s hard to miss, but once you turn 72, there is an annual to-do that can easily be forgotten. Once you reach age 72, it’s time to start taking your required minimum distributions (RMD) from your retirement account each year, and if you forget to take it, it can result in a 50% penalty.

Did you miss your RMD this year? Fortunately, 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 516-294-5287 to schedule a time to discuss your needs.

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Disclaimer:

Any information provided on this blog is accurate and true to the best of our knowledge, but omissions, errors, and mistakes are a possibility. The information presented on this blog is for informational purposes only and should not be seen as financial advice. Consult with a financial professional before taking any sort of action on the information present in this blog. We reserve the right to change how we manage and run this blog and we may change the focus or content of this blog at any time.

Louis Orgera
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