The IRS on Jan. 15 issued two updated safe harbor explanations that plan administrators may use when they provide written explanations to retirement plan participants about eligible rollover ...

When you realized you'd missed the RMD. Why you missed the distribution. The date you took the missed RMD. If you're ...

The IRS on Jan. 15 issued updated two safe harbor explanations plan administrators may use when they provide written explanations to retirement plan participants about eligible rollover distributions.

Reaching 72 with $900,000 in tax-deferred retirement accounts means navigating required minimum distributions (RMDs) while ...

Each year, American retirees lose approximately $1.7 billion in IRS penalties for not taking their required minimum distributions. According to Vanguard, around 6.7% of its clients missed their annual ...

US retirees and heirs of retirement accounts like 401(k)s and IRAs often make this year-end mistake that costs them IRS tax ...

Take Becka, a hypothetical married mother of three who inherited her mom’s individual retirement account (IRA). She needs to ...

Retirees face IRS penalties of up to 25% if they fail to take required minimum distributions from pretax investment accounts ...

I have named my daughter as the recipient and beneficiary on all my accounts, including my pension insurance policy and any Social Security benefits. I completely trust her, as she is an intelligent ...

‘Tis the season for last-minute shopping, family get-togethers, and year-end financial tasks. But many Americans forget the last item – or don’t do it correctly – leading to tax penalties and, often, ...

When writing about taxation of retirement accounts, I've referred to IRS Publication 590- B many times, as it provides guidelines to taxpayers for handling required minimum distributions from ...

Required minimum distributions, or RMDs, are the amounts that must be withdrawn each year from specific retirement plan accounts upon reaching the required minimum distribution age. These mandatory ...