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PLEASE NOTE: IRA & INHERITED IRA OWNERS

December 9, 2016

2016 IRS Required Minimum Distribution (RMD) From Your IRA

Are you 70 or older, or the recipient of an Inherited IRA?
For the year you turn 70½, and each year thereafter, the IRS requires that you take required minimum distributions (RMDs), or withdrawals, from most retirement accounts. Other than the year you turn 70½, the deadline is 12/31.

Regardless of your age, you are required to take an RMD from your Inherited IRA annually.

If the RMD amount is not distributed by the deadline, the IRS assesses a 50% penalty on the amount not withdrawn. You may choose to take the RMD from your FAM Funds IRA or from an IRA with another institution. Please contact your tax consultant to determine the best way to take your RMD.

If you have questions, please contact Peter Sweetser or Kathy Davis at 800-932-3271.

* This does not apply to Roth IRA owners.
 


Past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Please consider a fund’s investment objectives, risks, charges and expenses carefully before investing. Read our prospectus or summary prospectus.

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FAM Funds: Shareholder Services - News
Resource for our FAM Mutual Fund Shareholders to locate where members of our team are quoted and featured throughout a variety of news media outlets.