Denise Appleby- Author, Speaker on IRAs & Employer Retirement Plans; Consultant, and Trainer of Choice for Financial and Tax Professionals
Program Name: Appleby’s Top 20 Effective Strategies for Avoiding RMD Mistakes and Penalties
Required minimum distribution (RMD) must begin for the year in which the account owner reaches age 70½, unless an exception applies. Failure to comply with the RMD rules will result in the account owner owing the IRS a 50% excess accumulation penalty on any RMD shortfall. RMDs must also be taken from inherited accounts, and the process for determining RMDs for these accounts are more complex than those that apply to RMDs for non-inherited accounts. Interested parties must understand the compliance requirements that apply to RMDs, to be able to assist in ensuring that penalties are avoided.
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