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An RMD Deadline is Looming – And Missing It Could Cost You Big Bucks

November 22, 2021

From the Kiplinger website

There’s still time to withdraw your required minimum distribution (RMD) from your traditional IRA, 401(k) or other retirement account (except a Roth IRA) before the end of the year…but you better hurry! The 2020 RMD suspension for was for one year only, so don’t think you can skip it again in 2021. And if you don’t take enough out of your retirement plans this year, you could be hit with a 50% penalty from the IRS on the amount not distributed as required.

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