September 27, 2023
Jo Anna M. Fellon, National Leader of Private Client Services, spoke with Forbes about reduced RMD penalties under the SECURE 2.0 Act
Forbes
By Julie Jason
Excerpt:
Under the SECURE 2.0 Act, which was signed into law in December of 2022, the penalty for an RMD that has been missed or not fully taken has been reduced from 50% to 25%, and “possibly 10% if the RMD is timely corrected within two years,” quoting the IRS website page “Retirement Plan and IRA Required Minimum Distributions FAQs.”
