Question: Is the following statement correct regarding Required Minimum Distributions (RMDs) from retirement accounts? Is this a correct option ? A The penalty for not taking

Is the following statement correct regarding Required Minimum Distributions (RMDs) from retirement accounts?

Is this a correct option ?

A The penalty for not taking RMs is a 10% tax which is assessed in the year the RMD is not taken and in every following year until

the RMD and any related earnings are removed from the account.

This question may have more than one sub-question, which will be delivered one at a time on confirmation of your answer.

Yes

No

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