Can I Avoid Taking My RMD After Reaching My Required Beginning Date?

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)