TomD8
Level 15

Retirement tax questions

@hjhood --

 

A 50% penalty would apply only if you failed to take a required RMD.  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fails to withdraw the full amount of the RMD, or fails to withdraw the RMD by the applicable deadline, the amount not withdrawn is taxed at 50%.  

 

 

**Answers are correct to the best of my ability but do not constitute tax or legal advice.