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If you take more than your Required Minimum Distribution (RMD), you may have to pay a penalty to the IRS. This penalty is typically 50 of the amount that you should have withdrawn but did not. It's important to follow the RMD rules to avoid this penalty and ensure you are in compliance with tax regulations.
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Can you transfer equities from a traditional IRA to a Roth IRA for your required minimum distribution?
Yes, you can do that. You'll obviously pay on the RMD from the normal IRA and then make a contribution to the Roth. However, there are many limits on who can contribute to a Roth and those would still be in effect. (Which normally makes it unfeasible). For for more details you should discuss with your own IRA administrator.
What happens if you do not close your bank account balance is fall than minimum?
nothing will happen you can put some more money in the bank account to resume it
How much amount to open saving account on sbi?
The minimum amount required depends on the facilities you want. If you want an ATM card and a cheque book on your account, the bank will ask you for Rs. 1000/- or more as minimum deposit. If you don't want these features then the bank should accept only Rs. 500/- as the minimum deposit.
What are the minimum payments on a credit card?
Depends on how much you owe. The more you owe, the more the minimum payment.
What happens if you cannot pay a credit card debt in NC?
If you fail to pay the minimum for 6 or more months you would be looking at jail time in most cases.
