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  1. #11
    Join Date
    Oct 2006
    Posts
    15,656

    Default Re: When Do You Have to Take Required Distributions from Your Sep

    Quote Quoting budwad
    View Post
    These retirement accounts are all self-directed SEPs so there is no administrator. If I use the life expectancy tables compared to just taking 4% it is about $1,700 less. But my accountant tells me that there are substantial penalties for underfunding your MRD. That is why he recommends taking the 4%.
    There are substantial penalties for underfunding your RMD, however the life expectancy tables are accurate. All of the plan administrators use them. You can do 4% (as long as the life expectancy tables don't go over 4% down the road) if you want to, but its also safe to use the life expectancy tables.

  2. #12
    Join Date
    Jan 2019
    Location
    Pugetopolis
    Posts
    66

    Default Re: When Do You Have to Take Required Distributions from Your Sep

    I think the RMD is less than 4% for only two or three years.

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