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Turned 70½ last year? Don't miss this key April 1 deadline

Turned 70½ last year? Don't miss this key April 1 deadline

| March 28, 2019
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CNBC shared some helpful and timely tips.

  • Whether you hold a 401(k) or an IRA, if you turned 70½ in 2018, you have until April 1 to take your first required minimum distribution, or RMD, from this account.
  • Failure to take the RMD means a 50 percent excise tax on the amount you should have withdrawn.
  • If you waited until this spring to take your first 2018 RMD, make sure you’re ready to take a second distribution this year for 2019.

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