Ask Terry Questions Minimum Required Distribution

Minimum Required Distribution

By Terry Savage on August 06, 2018 | Chicken Money


If I need to take an MRD next year, and all my money is in conventional IRA CDs that do not come due until 2020 or later, how can I avoid paying penalties for cashing out one of the IRA CDs early?

Thank you,


Terry Says

Most banks will let you break an IRA CD without penalty to take a RMD. Ask. And if they deny you, please write back and I will contact them and embarrass them in a column!

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