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Dice Financial Services Group
1716 N. Sanborn Blvd, PO Box 790
Mitchell, SD 57301
Phone: 605-996-7171
Toll Free: 800-658-3603
Website: www.dicefinancial.com
September/October 2018
Rules of the Road
If you’re nearing your retirement date, it’s a good idea to learn the rules about taking required minimum distributions (RMDs) from individual retirement accounts (IRAs) and 401(k) plans.
- Your first RMD generally will be due by April 1 of the year after you reach age 70 1/2.
- Another RMD will be due by December 31 of that same year and then each subsequent year.
- If you miss taking an RMD, the penalty will be 50% of the amount you should have taken but didn’t.
- You can withdraw more than the minimum amount.
- Your withdrawals will generally be taxable at your ordinary income tax rates.
For more information about RMDs, talk to your financial professional.
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Securities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth. Insurance Services offered through Dice Financial Services Group.
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