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The penalty tax applied for not taking required minimum distribution from a qualified retirement plan in a given year is:
A. 6% of the shortfall
B. 10% of the shortfall
C. 15% of the shortfall
D. 50% of the shortfall
Answer: D.
You should now have gotten the answer to your question “The penalty tax applied for not taking required minimum distribution from a qualified retirement plan in a given year is:”, which was part of Insurance MCQs & Answers. Thanks for choosing us.
