Quote:
Originally Posted by Haggar
As long the RMD is taken in full by 12/31 of each year the IRS doesn't care.
Some of my clients take their RMD monthly, some take it in pieces and some take it as a lump sum..
Form 5498 issued by the trustee of each IRA advises you what your RMD from that plan is, They are generally issued in March of each year for the preceding year.
If you have multiple IRAs you can add up all of the RMD's for all of your IRAs and take it out of one plan.
I would take 401(k) from each plan as required.
Don't short the RMD - penalty is very severe.
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Did learn last year that you have to take specific amount from IRA and same for 401 based on your age based on value of each 12/31 to get to your total rmd.