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Required Minimum Distributions (RMD's)

As the end of the year approaches, it is important to remind all our valued clients who need to be sure their IRS Required Minimum Distributions have been met by December 31, 2021.  

The IRS requires that you start taking distributions from your retirement account in the year that you turn 72 or for inherited IRA’s. If you do not take the distribution when required, you will be subject to a 50% IRS penalty. This distribution can come from any retirement account but must be enough to cover all your retirement accounts.  

As a value-added benefit to all clients, we make great efforts to track and verify that all RMD’s have been satisfied and taken out of the appropriate accounts we handle.  The IRS places the responsibility of the tax penalty on the taxpayer (i.e. You). Therefore, it is very important that if you have any questions regarding satisfying your RMD, please give us a call at 609-489-5200.

Here at McLean Advisory Group, we are looking out to protect your assets and do what's best for you.  Do other Advisors do that?