A few years ago, the Required Minimum Distribution (RMD) rule changed from requiring distributions at the age of 70-1/2 to 72 years. Life expectancies are increasing (sans Covid) and the Consolidated Appropriations Act of 2023 has extended the starting age for RMDs to the age of 73 for those who turn 72 after December 31, […]
As we are quickly approaching the end of the year, it is important to determine if you have taken your required minimum distribution from retirement-type assets. For a financial institution to do the calculation, process the request for the distribution and send out the distribution, bear in mind that you are not the only person […]
When you reach the age of 70-1/2, you are required to begin taking retirement plan distributions. Failure to do so could subject you to a surcharge by the IRS. This distribution must be taken by April 1 of the year following the attainment of age 70-1/2. These payments are called required minimum distributions (RMDs) and […]
For those of you that are 70-1/2 years of age and are fortunate to have a retirement type account, such as a traditional IRA, have you taken your RMD (required minimum distribution) for 2018? If not, it is not too early to be thinking of doing so. Often times the distributions are put off until […]
Connect with Capehart Scatchard