The year-end is approaching and you may have questions about RMDs (Required Minimum Distributions).

Once you reach age 72 (age 70½ if you attained age 70½ before 2020), the IRS requires you to start withdrawing from—and paying taxes on—most types of tax-advantaged retirement accounts. You may also be required to take RMDs from retirement accounts that you inherit.

In most cases, RMDs are treated as ordinary income for tax purposes. Below, are two resources that provide more information on RMDs. If you have specific questions or need help, please reach out – we are happy to help.