You Have Less Than 3 Months to Complete Your 2026 RMD: 3 Big Mistakes to Avoid
The penalties can be steep if you miss an RMD, so be sure to avoid these mistakes.
Overview
There are only a few weeks left in 2026, which means if you haven't taken your required minimum distributions from your retirement accounts this year, you don't have much time left. With few exceptions, anyone age 73 or older must begin withdrawing their retirement savings, and those with inherited IRAs might also have to take annual distributions, whether you need the cash or not.
If you miss the deadline, the penalty can be severe. You'll pay an extra 25% in taxes on the amount you were supposed to withdraw. You can get that reduced to 10% if you catch and correct your mistake early, but that's still pretty steep.
Details
As such, it's important to avoid any mistakes when making those RMDs. Here are three big ones to watch out for.
Source
Originally published at www.fool.com.