Tag Archive: RMD

Don't forget to take your RMD

Written by November 3, 2014

Did you celebrate your 70½th birthday in 2014? Do you have a traditional or rollover IRA? If both answers are yes, the deadline for taking the initial required minimum distribution from your retirement account is April 1, 2015. Required minimum distributions are the smallest amount you can withdraw from your account to avoid penalties, and your 70½th birthday is the...

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Make sure you make your RMDs!

Written by November 15, 2012

Reminder: Required minimum distributions (RMDs) must be taken by December 31. RMDs are mandatory withdrawals from certain retirement accounts, generally after you reach age 70½. You must take a withdrawal by December 31 if the rules apply to you — and there’s a hefty penalty for procrastinating. Missing the deadline could cost you 50% of the amount you were required...

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