The rules surrounding the Required Minimum Distribution are complicated and often require a few conversations with clients to help them understand the issues that must be considered.
To help make this easier, we have created the “Can I Avoid Taking My RMD After Turning Age 70.5?” This flowchart addresses common issues regarding Required Minimum Distributions as a result of turning 70.5:
- What to do if you forgot to take an RMD
- How the RMD is calculated
- Which RMDs can be combined and which ones can not
- Implications if the client is still working
- Implication if the client owns more than 5% of the company
Updated for 2019
This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular investment or legal strategy. The information contained here has been obtained from sources believed to be reliable but cannot be guaranteed for accuracy.