Required Minimum Distribution 2023 Deadline [New RMD Rules] скачать в хорошем качестве

Required Minimum Distribution 2023 Deadline [New RMD Rules]

In today’s video, we’re discussing the new required minimum distribution rules for 2023 and what you need to be aware of to stay in compliance with the IRS so you can avoid paying penalties for NOT taking money out before the December 31 deadline. ➡️ RMD Calculator: https://www.schwab.com/ira/ira-calcul... 🔴 Check out: How to Lower Your RMDs    • How to Lower Required Minimum Distribution...   As the year draws to a close, it's essential for retirees and retirement account holders to be aware of the looming deadline for Required Minimum Distributions (RMDs). Failing to meet the RMD deadline can result in hefty penalties, making it imperative to act before time runs out. Required Minimum Distributions are mandatory withdrawals that individuals must take from their tax-advantaged retirement accounts, such as traditional IRAs, 401(k)s, and 403(b)s. Here’s the most current rules: Beginning in 2023, the SECURE 2.0 Act raised the age for starting RMDs to 73. If you reach age 72 in 2023, your first RMD would be due by April 1, 2025, for the year 2024. Brokerages or custodians will inform IRA owners by April 28, 2023, that no RMD is required for 2023. If you reach age 73 in 2023, it means you were 72 in 2022 and subject to the age 72 RMD rule that was in effect for 2022. If you turned 72 in 2022: Your first RMD was due by April 1, 2023, based on your account balance as of December 31, 2021. Your second RMD is due by December 31, 2023, based on your account balance as of December 31, 2022. Before Secure Act 2.0, if you failed to withdraw the full amount of the RMD by the due date, the amount not withdrawn would have been subject to a 50% excise tax. Now, the SECURE 2.0 Act drops the penalty to 25%; and possibly to 10% if the RMD is timely corrected within two years. It's important to note that these rules are subject to change, if and when Congress enacts new bills in the future. #rmds #requiredminimumdistribution #retirementincome #retirementincomeplanning #retirementplanningtips #retirementsavings