Waiving the RMD Penalty

10/26/2017

On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided for your convenience and does not constitute legal advice. This publication is protected by copyright.

a man holding his hands together with changes in it and a sign that says retirement on it

Once you turn 70-1/2 you are required to begin taking certain minimum amounts annually from your traditional IRA and other qualified retirement plans.

If you missed one there is a way around the penalties.


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