Many Vanguard clients in their 70s and above missed required minimum distributions from retirement accounts in 2024. Missing RMDs can lead to tax penalties of between 10% and 25% the required amount.

‘Tis the season for last-minute shopping, family get-togethers, and year-end financial tasks. But many Americans forget the last item – or don’t do it correctly – leading to tax penalties and, often, ...

Investors who forget to take required minimum distributions from their retirement accounts after they turn 73 face tax penalties that, nationally, amount to as much as $1.7 billion a year, according ...

Most retirees must start required minimum distributions from pretax accounts at age 73. Certain heirs with an inherited individual retirement account also must take RMDs. In 2024, some 6.7% of ...

For many financial advisors, the required minimum distribution (RMD) is often treated as a minor, once-a-year administrative task. But for roughly 1 in 3 RMD-age clients who either missed a ...

It is unfair that Americans spend decades saving for retirement through 401(k)s and IRAs, benefiting from tax advantages along the way, only to lose money to the Internal Revenue Service (IRS) ...

A substantial number of elderly, retirement-age investors are failing to take required minimum distributions, or RMDs, a new Vanguard report shows. This ultimately results in tax penalties, which can ...