1Some rollover choices may not be available with respect to Roth employer plan assets. 2Beginning in 2023, the SECURE 2.0 Act raised the age that you must begin taking RMDs to age 73. If you reach age 72 in 2023, the required beginning date for your first RMD is April 1, 2025, for...
The age for taking required minimum distributions (RMDs) from traditional IRA and 401(k) accounts and SIMPLE and SEP IRAs is now 73 (raised from 72 as of Jan. 1, 2023). The penalty for failing to make an RMD has also been lowered but it’s still severe. 2. Better Communication If ...
you must complete the rollover process within 60 days of receiving the distribution from your 401K. Failure to do so may result in taxes and penalties on the withdrawal. To avoid this, it is generally recommended to opt for a direct
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