Excess Accumulation Penalty

外汇网2021-06-19 13:54:42 51

The penalty a retirement account owner or the beneficiary of a retirement account must pay when he or she fails to distribute a minimum amount due for a year from the retirement account.

The failure to distribute this amount will result in the inpidual being subject to an excess accumulation penalty of 50 percent of the amount not distributed from the account. This amount is then owed to the IRS.

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