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Beanie1924
Level 1
January 27, 2020
Question

Annuity

  • January 27, 2020
  • 2 replies
  • 6 views

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?

    2 replies

    A
    Anonymous
    January 27, 2020

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

    M
    MinhT1
    Level 15
    January 27, 2020

    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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