Combining Qualified Funds Fixed Index Annuity RMDS IRA
Its RMD time and I have an IRA Fixed Index Annuity with a LifeTime Payout(not annunitized) and some other IRA funds. The Fixed Index Annuity has a contract value that decreases with each annual payout. Do I combine the contract value with my other IRA money to figure my RMD on? Hopefully my annual contract payout will be enough to cover all RMDs.
Permalink Submitted by Alan - IRA critic on Mon, 2016-05-09 20:14
Find out specifically from the insurance company what the RMD for the IRA annuity is. For your other IRA accounts you can probably figure out the RMD yourself. Add up the RMDs and you can satisfy your total RMD in any combination over all these accounts. Your contract payout may or may not be enough to satisfy your entire RMD for all accounts.