Helping Diligent Advisors Ensure They're On The Right Planning Path
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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 Reaching My Required Beginning Date?” This flowchart addresses common issues regarding Required Minimum Distributions as a result of turning age 72 (or age 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 2020 (including The SECURE ACT)