IRA Required Minimum Distribution (RMD) math is complex and serious. Owners of IRAs must take a distribution starting no later than the April 1 of the year following the year the owner becomes age 70 ½. This number will likely change with the new SECURE Act to age 72. You must take at least the RMD each year, or you are subject to a 50% (that is correct) penalty of difference between the RMD and what was withdrawn. The penalty is imposed on the aggregate of all IRAs owned. 

 

Read the full blog post by Leon LaBrecque on Forbes.com here: https://www.forbes.com/sites/leonlabrecque/2019/11/10/good-news-for-you-...

 

View Leon LaBrecque's Forbes contributor profile and other blog posts here: https://www.forbes.com/sites/leonlabrecque/

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Image is Getty from original post.