Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What if my beneficiary(ies) fails to take a required distribution?

April 26, 2017Beneficiary distribution fails ies

0

Posted

What if my beneficiary(ies) fails to take a required distribution?

1 Answer

0

Posted

If your beneficiary(ies) fails to withdraw the required amount in any tax year, he or she may be subject to a 50 percent excess accumulation penalty tax on the amount that should have been withdrawn, but was not distributed