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April 9, 2022
Question

I received a 1099r -Statement of Survivor Annuity. Put info in. Now being asked if its a RMD? Is it the first year I'm receiving payments??? Help?

  • April 9, 2022
  • 1 reply
  • 0 views
It's a Survivor's Benefit.

1 reply

ColeenD3
April 9, 2022

The required minimum distribution for any year is the account balance as of the end of the immediately preceding calendar year divided by a distribution period from the IRS’s “Uniform Lifetime Table.” A separate table is used if the sole beneficiary is the owner’s spouse who is ten or more years younger than the owner.  In this regard, the following materials will be useful to you in determining required distribution amounts and payout periods:

  • worksheets to calculate the required amount
  • tables to calculate the RMD during the participant or IRA owner’s life:
  •  
  • 401(k), profit-sharing, 403(b), or other defined contribution plan
    Generally, April 1 following the later of the calendar year in which you:
    • reach age 72 (age 70½ if born before July 1, 1949), or
    • retire (if your plan allows this).

See the chart comparing IRA and defined contribution plan RMDs.