7. What Happens If You Don’t Take an RMD?
If you fail to take an RMD, the consequences can be severe. The IRS imposes a 50% punishment on the sum you ought to have pulled back but did not. This expands the charges you’ll owe on the sum of the RMD itself. It’s fundamental to keep track of your withdrawals and work with a charge proficient to avoid this exorbitant mistake.
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