RMDs-Required Minimum Distributions

RMDs-Required Minimum Distributions

sunsetThose over age 70 ½ are generally required to receive payments from their individual retirement accounts and workplace retirement plans by the end of the tax year.  There is a special rule that allows those who reached 70 ½ in 2016 to wait until April 1, 2017 to receive them.

There is a hefty penalty if you don’t take your RMD.

Linda Reinhardt

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