IRA Required Minimum Distributions
If you are over the age of 72, or if you have an IRA that was inherited from someone other than your spouse, you likely need to take Required Minimum Distributions from the account prior to December 31st or you may face tax penalties for not doing so.
The following Article on the IRS web site is a good primer on this topic:
You may also wish to consult with your licensed tax advisor regarding the specifics of your situation.
Distributions must be issued and reported from your IRA account held by the custodian. You may not issue distributions to yourself directly from your IRA-owned LLC.
Contact your Safeguard Advisor if you need instructions for taking an IRA distribution or need assistance with the process.
Please keep in mind that Safeguard Advisors cannot provide tax advice with regards to the specifics of your RMD situation.
This page has been updated to reflect law changes implemented with the SECURE Act of 2019.