Did you know that, in most cases, you must start taking required minimum distributions (RMDs) from your retirement accounts ...

Your RMD is determined by dividing the balance in ... "it becomes taxable income and must be declared on your tax forms," says David John, senior policy advisor at the AARP Public Policy Institute.

IRS Form 5329 must be filed for any RMD not taken by the deadline, whether to pay the excise tax or request a waiver. But no Form 5329 is required when an automatic waiver applies. If you missed ...

To correct the error, you should file Form 5329 with your federal tax return in the year you missed the RMD. Making accurate calculations for upcoming RMDs and taking the correct distribution will ...

Most retirees have to start taking RMDs when they turn 73. The RMD requirement depends on your age and your account balance at the end of each year. Calculating your RMD is rather straightforward ...

Anyone in that position must file a Form 5329 with their federal tax return for the year the RMD was required but not taken. Here is what changed in 2024: Roth 401(k) and Roth 403(b) plans are no ...

If you turned 73 in 2024, your first RMD is due by April 1, 2025, based on your account balance on December 31, 2023, according to the IRS. Your second RMD is due by December 31, 2025, based on ...

but did not allow separate account treatment for RMD purposes. To get around this issue, IRA owners could name separate ...