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| Definitions by InvestorWords.com |
| What is...? |
| Check if RMD for 2004 (5498) If the box is checked, you must take a required minimum distribution (RMD) for 2004. The amount, and date of the RMD will be furnished to you by January 31 either on Form 5498 (in the blank box to the left of box 10) or in a separate statement. If you don't take the RMD next year, you are subject to a 50% excise tax on the amount not distributed. See Pub. 590 for details. |
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