Question

Can I skip my RMD if I don’t need the income?

Answer

No. RMDs are required and missing one can trigger a 25% excise tax on the required amount that was not withdrawn. If you don’t need the income, you may consider strategies such as a qualified charitable distribution (QCD) or reinvesting the funds in a taxable account.

About Mercer Advisors

We exist so you don’t have to worry about money. For more than 40 years, we’ve taken the sophisticated, time-tested approach that many ultra-high net worth individuals use to help manage their financial lives and made it accessible to more families.

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