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July 30, 2022
Question

How do i know if I received all the RMD, not all, or was not required to take an RMD?

  • July 30, 2022
  • 3 replies
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3 replies

fanfare
Employee
July 30, 2022

If you have reached age 72 your custodian will inform you of the actual amount of your RMD, down to the penny.

 

If you are determining the distribution, you should round that up to the next $10, or $100 if you like round numbers.

 

@geseg18450e 

July 30, 2022

you should be able to contact the custodian. 

July 30, 2022

who is the "custodian"?

Employee
July 30, 2022

Custodian = The administrator of the retirement plan.

SteamTrain
Employee
July 30, 2022

..AND.

.....if the question about the RMD is referring to an actual company pension plan payout, that you automatically receive monthly, then all of it is the correct RMD.

 

If the question is referring to a retirement fund distribution, that you actually have control over how much you take out, like a traditional IRA, or a 401k....then the RMD amount has to be calculated based on the value of that fund on 31 Dec of the year just prior to the year you need to remove the RMD amount.  

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*