Yes, at the age of 72, the IRS mandates that you take out the required minimum amount each year. If you fail to take the required minimum each year, you will be subject to an IRA penalty.
Member Login
Business Login
News
Independence Day Closure
In observance of Independence Day, our offices will be closed on Friday, July 4, 2025, and Saturday July 5, 2025. Regular business hours will resume on Monday, July 7, 2025. The Hub @ Jack’s Fresh Market will remain open on Saturday, July 5, 2025.
Yes, at the age of 72, the IRS mandates that you take out the required minimum amount each year. If you fail to take the required minimum each year, you will be subject to an IRA penalty.