RMD’s Are Back

Required Minimum Distributions are back

Required Minimum Distributions (RMD) from IRAs and pension plans are back in 2010.

Any RMD not taken from your IRA or qualified plan by December 31, 2010 will be subject to a 50% penalty.

To figure your RMD, use the value of your accounts as of December 31, 2009.

Your ELLS advisor can help you with this calculation.