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Beanie1924
New Member
posted
‎January 27, 2020 9:08 AM
last updated ‎January 27, 2020 9:08 AM

Annuity

I am 95 and have a non-qualified annuity that I have not yet taken income from.  Is there an IRS penalty if I extend the annuity date?

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2 Replies
Anonymous
Not applicable
‎January 27, 2020 2:10 PM

Annuity

why not ask the annuity company as to the tax consequences. 

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MinhT1
Expert Alumni
Expert Alumni
‎January 27, 2020 2:30 PM

Annuity

Non-qualified annuities are NOT subject to RMDs (required minimum distributions). There is no IRS penalty for non-withdrawal or for extending the annuity date.

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