RMD Planning

Required minimum distribution planning for the Wesley Chapel corridor

East Pasco's retiree households are the ones most affected by required minimum distributions, the mandatory withdrawals the IRS requires from traditional retirement accounts once you reach a certain age. Missing one, or withdrawing the wrong amount, triggers an excise tax that's entirely avoidable with the right schedule in place. Wesley Chapel Wealth Pro doesn't calculate or file anything for you. We match you with a planner who coordinates your RMD schedule with your CPA so the withdrawal happens correctly and on time.

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Planner reviewing a required minimum distribution schedule with a retired client

What's included in this service?

Ask about your account types, ages, and whether you already have an RMD schedule in place
Match you with a planner experienced in RMD calculation and multi-account coordination
Confirm the planner coordinates with your CPA rather than working around them
Connect you directly so the planner can set up or review your withdrawal schedule
Follow up to confirm the schedule actually got put in place
Never calculate your RMD or file anything with the IRS ourselves

When do you need this service?

You're approaching the age where required minimum distributions begin and have no schedule yet
You have multiple retirement accounts and need to know if you can aggregate the RMDs or must take them separately
You inherited a retirement account and the RMD rules for inherited accounts work differently than your own
You want to combine RMDs with a qualified charitable distribution strategy
You're not sure whether last year's distribution actually got calculated correctly

What do people ask about RMD Planning?

At what age do required minimum distributions start?

The starting age has changed under recent federal law and depends on your birth year, so it's worth confirming your specific age threshold rather than assuming an older rule still applies. A planner or CPA can confirm the current age that applies to you based on your date of birth.

What is the penalty for missing a required minimum distribution?

The IRS charges an excise tax on the amount that should have been withdrawn but wasn't, and that penalty has been reduced in recent years but is still meaningful. A planner can help you set up automatic distributions so a missed deadline doesn't happen in the first place, and can help you correct a past missed distribution if one already occurred.

Can I take my RMD from just one account if I have several?

For traditional IRAs, you can generally calculate the total RMD across all your IRAs and withdraw it from any combination of those accounts. Employer plans like 401ks generally require the RMD to be calculated and withdrawn separately from each plan. A planner can confirm which rule applies to your specific mix of accounts.

How do RMD rules work for an inherited IRA?

Inherited account rules changed significantly under the SECURE Act and depend on your relationship to the original owner and when they passed away, with many non-spouse beneficiaries now required to empty the account within 10 years, sometimes with annual distributions required along the way. A planner or CPA can confirm the specific timeline that applies to your inherited account.

Can I use my RMD for a charitable donation instead of taking it as income?

A qualified charitable distribution lets you, once you reach the eligible age, send some or all of your RMD directly to a qualifying charity, which can keep that amount out of your taxable income. There are specific rules about how the transfer must happen and annual limits that apply. A planner or CPA can confirm current-year limits and walk through whether this fits your giving goals.