HOW TO RMD A MATURING ACCOUNT
I must take my 2013 RMD soon and have a maturing IRA CD now which is the RMD amount.
How do I take the RMD from this account at maturity?
I must take my 2013 RMD soon and have a maturing IRA CD now which is the RMD amount.
How do I take the RMD from this account at maturity?
Permalink Submitted by Alan - IRA critic on Tue, 2013-09-17 17:27
You have to plan carefully if all your TIRA assets are in CDs. Since you have a maturity date before year end, all you have to do is advise the custodian the amount of your RMD, and have it paid out to you at maturity. You can renew what is left in a new CD. Some banks will allow a mid term RMD distribution on a long term CD without penalty if they know the details of your RMD. You can check into that when determining how long to renew for.