rmd
Hi:
My client is taking RMDs and has an account at TIAA-CREF. She has 3 accounts: 1. IRA, RMD= $3,462. 2. Defined Contribution, RMD= $2,429 and 3. Tax Deferred Annuity, RMD=$1,427. TIAA CREF informed her of the RMDs for each of the 3 above accounts. She has already taken the total of the 3 RMDs ($7,367) from her IRA. By doing so, has she satisfied the RMD for the defined contribution and Tax deferred annuity or must she take out from each account? Thank you.
Permalink Submitted by Alan - IRA critic on Wed, 2015-12-23 00:04
Each of those accounts must distribute it’s own RMD because they are different types of accounts under the tax code. If 60 days has not passed since the IRA distribution, the amount in excess of the IRA RMD can be rolled back to the IRA so that the taxable distributions do not exceed the total RMD amounts.