{"id":8363,"date":"2018-12-07T16:12:28","date_gmt":"2018-12-07T21:12:28","guid":{"rendered":"http:\/\/162.241.156.118\/~azzadasset\/?p=8363"},"modified":"2018-12-07T16:12:28","modified_gmt":"2018-12-07T21:12:28","slug":"three-rmd-to-dos-before-the-end-of-the-year","status":"publish","type":"post","link":"https:\/\/intelliserver.net\/wordpress\/retirement\/three-rmd-to-dos-before-the-end-of-the-year\/","title":{"rendered":"Three RMD to-do&#8217;s before the end of the year"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignleft wp-image-8367 size-medium\" title=\"end-of-year RMD deadline\" src=\"https:\/\/intelliserver.net\/wordpress\/wp-content\/uploads\/2018\/12\/december-31-300x169.jpg\" alt=\"end-of-year RMD deadline\" width=\"300\" height=\"169\" srcset=\"https:\/\/intelliserver.net\/wordpress\/wp-content\/uploads\/2018\/12\/december-31-300x169.jpg 300w, https:\/\/intelliserver.net\/wordpress\/wp-content\/uploads\/2018\/12\/december-31.jpg 426w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>The end of the year is full of deadlines for your financial matters. Here are three of the most important to-do items when it comes to taking your required minimum distribution (RMD) from a retirement account.<\/p>\n<p><em><strong>If you&#8217;re at least 70 years old and have a retirement account, you should read over this list and make sure you&#8217;ve met RMD requirements to avoid a tax penalty.<\/strong><\/em><\/p>\n<p>1. Make sure that 2018 required minimum\u00a0distributions (RMDs) for all IRA account\u00a0owners who reached age 70\u00bd prior to 2018\u00a0are paid out. IRA owners generally use the IRS&#8217;s Uniform Lifetime Table to find the life expectancy\u00a0factor to calculate their required minimum distributions. There is an exception\u00a0for people whose spouses are more\u00a0than 10 years younger and were their sole primary\u00a0beneficiary for the entire year. Those individuals will use the Joint\u00a0Life Expectancy Table. There is a 50% penalty that\u00a0applies when RMDs are missed, so be sure you don\u2019t miss this deadline.<\/p>\n<p>2. Verify that all 2018 minimum distributions for deceased\u00a0IRA owners, if not taken by the IRA owner\u00a0when alive, are paid out to the beneficiaries\u00a0by year end. The year-of-death RMD is calculated as\u00a0though the account owner lived for the entire year. It\u00a0is often overlooked, particularly when IRA owners die\u00a0near the end of the year without taking their full RMD.\u00a0Beneficiaries who miss the deadline will face a 50% penalty on the shortfall.<\/p>\n<p>3. Don\u2019t forget 2018 RMDs for beneficiaries. Double check that RMDs for all beneficiaries are\u00a0paid out before the end of the year. IRA custodians\u00a0are not required to notify beneficiaries of their RMDs.\u00a0Don\u2019t overlook Roth IRA beneficiaries; they also are\u00a0subject to minimum distribution requirements.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The end of the year is full of deadlines for your financial matters. Here are three of the most important to-do items when it comes to taking your required minimum distribution (RMD) from a retirement account. If you&#8217;re at least 70 years old and have a retirement account, you should read over this list and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[13,578,110],"tags":[597,327,14,170,251],"class_list":["post-8363","post","type-post","status-publish","format-standard","hentry","category-retirement","category-rmds","category-tax","tag-end-of-year","tag-required-minimum-distribution","tag-rmd","tag-rmds","tag-tax-penalty"],"_links":{"self":[{"href":"https:\/\/intelliserver.net\/wordpress\/wp-json\/wp\/v2\/posts\/8363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/intelliserver.net\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/intelliserver.net\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/intelliserver.net\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/intelliserver.net\/wordpress\/wp-json\/wp\/v2\/comments?post=8363"}],"version-history":[{"count":0,"href":"https:\/\/intelliserver.net\/wordpress\/wp-json\/wp\/v2\/posts\/8363\/revisions"}],"wp:attachment":[{"href":"https:\/\/intelliserver.net\/wordpress\/wp-json\/wp\/v2\/media?parent=8363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/intelliserver.net\/wordpress\/wp-json\/wp\/v2\/categories?post=8363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/intelliserver.net\/wordpress\/wp-json\/wp\/v2\/tags?post=8363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}