RMD FAQ
Required Minimum Distributions -- Answers to Frequently Asked Questions
Generally, federal regulations require individuals with an IRA and participants in 401(k), profit sharing, money purchase and other plans to begin receiving required minimum distributions (RMDs) at age 70-1/2. Listed below are frequently asked questions regarding RMDs.
- At what age do I start taking required minimum distributions?
- What is the deadline for taking my RMD?
- How is my RMD amount determined?
- Could my beneficiary affect my RMD calculation?
- How is federal income tax withholding calculated on my RMD?
- What happens if I ask for less than the RMD?
- Am I required to take distributions if I am a beneficiary?
- How do I get more information?
Click
here for a pdf file that contains the questions, answers and a Uniform Life Table for RMD Determinations.
Please
contact us for more information about RMDs or to discuss how they apply to a particular situation.