Top 10 IRA Mistakes to Avoid
- Taking the wrong RMD amount.
- Taking distributions too early.
- Failure to properly identify designated beneficiaries.
- Not knowing the special rules for spousal IRA beneficiaries.
- IRA beneficiaries fail to take advantage of a stretch option.
- Taking RMDs after the deadline.
- Not knowing the non-spousal rules for IRA beneficiaries.
- Disclaiming errors.
- Rollover errors.
- Assuming a will takes care of everything.
Did you make an IRA mistake or are you positioned to potentially make a mistake with your IRA? Some mistakes come with hefty penalties, while others may not be corrected. Talk to your retirement distribution expert for assistance today!