Required Minimum Distributions: Take Them Right and Avoid the Excise Tax

No calculation, scheduling or repair is possible until you know every pot of pre-tax money that exists. A forgotten account is the classic route to the excise tax: you cannot withdraw from a plan you never listed. Sweep all of it — each traditional, SEP and SIMPLE IRA; every 401(k), 403(b) and 457(b) left with former employers; any plan at a current employer; each Roth IRA or designated Roth account; and anything titled inherited or beneficiary.

Build one master worksheet — spreadsheet or notebook — with a row per account and columns for custodian, account type, login or contact path, and owner-versus-inherited status. Year-end statements and custodian portals are the primary sources; a former employer’s HR office can name the recordkeeper behind a plan you lost sight of.