Once you reach age 70½ , the government requires that a specific minimum amount be withdrawn from your retirement account each year.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.
The information provided for informational purposes only, and does not constitute an offer, solicitation, or recommendation to sell or an offer to buy securities, investment products or investment advisory services. All information, views, opinions, and estimates are subject to change or correction without notice. Nothing contained herein constitutes financial, legal, tax, or other advice. These opinions may not fit to your financial status, risk and return preferences.