Hi dodboo, thank you for attending the event and post questions.
Understand your dilemma.
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What happens if a person does not take a RMD by the required deadline?
If an account owner fails to withdraw a RMD, fails to withdraw the full amount of the RMD, or fails to withdraw the RMD by the applicable deadline, the amount not withdrawn is taxed at 50%. The account owner should file Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored AccountsPDF, with his or her federal tax return for the year in which the full amount of the RMD was not taken.
If your sole stock has been in decline, 12/31/2021 balance may be much higher than the current value, hence a larger RMD amount and 50% penalty.
It is an investment decision weighing the RMD penalty now vs. future upside of the stock.
Hope the above helps. Thank you.
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