US EditionWhat are the rules for withdrawing from this account?
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What are the rules for withdrawing from this account?
What are the rules for withdrawing from this account? You must have a triggering event—generally either termination of employment or retirement—to take a distribution.Under SECURE 2.0, if you don't take your RMD by the IRS deadline, a 25% excise tax on insufficient or late RMD withdrawals applies. If the RMD is corrected timely, the penalty can be reduced to 10%. Follow the and consult your tax advisor.Qualified Distributions: Always tax-fre…
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