In general, anyone with a tax-deferred retirement account must take withdrawals called required minimum distributions (RMDs) ...

Failure to take your RMD before the deadline results in an excise tax penalty equal to 25% of the amount not withdrawn. Prior ...

Take our RMD quiz to test your retirement tax knowledge. Learn about RMD rules, IRS deadlines, and tax penalties that could ...

If you're 73 or older, there's a good chance the IRS is expecting you to take a required minimum distribution (RMD) this year ...

Calculating your RMD only requires two numbers. You'll need your retirement account balance as of Dec. 31, 2024. Check with ...

Once you reach the age of 73, your tax-deferred retirement accounts, such as traditional IRAs, can no longer remain untouched. The IRS mandates Required Minimum Distributions (RMDs) to ensure that the ...

RMDs, or required minimum distributions, are withdrawals you're forced to take each year if you don't want to get hit with a ...

At 73, you’ve reached a significant milestone, which is a result of a lifetime of hard work, planning, and perseverance. Congratulations! However, this particular birthday also comes with an essential ...

The IRS eventually comes looking for the tax revenue it didn't get to collect earlier on the money invested within IRAs and other tax-deferred accounts. Just because you withdraw money from a ...

Required minimum distributions (RMDs) on tax-deferred retirement accounts start at age 73 for individuals born between 1951 and 1959. The Secure 2.0 Act eliminated RMDs on Roth 401(k) plans and Roth ...

Retirement accounts like the 401(k), 403(b), and traditional IRA are tax-deferred, meaning you get a tax break upfront (the ability to deduct contributions from your taxable income), but you must ...