Changes to RMD Rules
If you don’t like the weather in New England,
just wait a minute.
This tried and true meteoritic motto implies change is constant and patience may be required. When it comes to changes in federal regulation, Uncle Sam has less tolerance and flexibility than we do with unpredictable weather patterns. Regarding the money you have saved in your retirement account, he wants as much of his money as he can get and will want you to start forking over a chunk of it every year once you reach your required minimum distribution age, which has recently changed.
Our guide this month provides you with an in depth review of how the whole system works and what has changed. In it, we explain how to time your first RMD if you have not done so already, define the updates to penalties if you do not withdraw enough on time, provide options to consider if you inherit an IRA and examine the different rules for non-spouse beneficiaries. Ultimately, RMDs require a great deal of planning and accuracy. Let’s get started!
The information in our Guides is of a general nature and is provided solely for informational purposes; it is not individualized and does not constitute investment advice or an offer to buy or sell any security, product, service or investment
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