Immediate Annuity – RMD
Good Afternoon
If a person is taking RMD’s from an immediate annuity do those count towards the total RMD’s for all accounts combined?
Thank you!
Good Afternoon
If a person is taking RMD’s from an immediate annuity do those count towards the total RMD’s for all accounts combined?
Thank you!
Permalink Submitted by Alan - IRA critic on Fri, 2013-03-15 20:25
The annuitized payment is the RMD for the annuity IRA. The other IRA accounts with a year end balance satisfy their RMDs separately from the annuity IRA. In the initial year of annuitization of the IRA annuity only, the entire RMD can be aggregated since there was a total prior year end balance for that year only.