EXCESS ACCUMULATION PENALTY. As previously described, your beneficiary(ies) is generally required to take certain required minimum distributions after your death. An additional tax of 50 percent is imposed on the amount of the required minimum distribution which should have been taken but was not.
Appears in 7 contracts
Samples: Roth Ira Custodial Account Agreement, Wealthfront Roth Ira Agreement, Custodial Agreement
