Compile RMD data across multiple brokers/carriers
I want a website that can consolidate IRA data for our clients that will show their critical RMD info from “all” their IRAs. For example, if Mary H. Lamb had 3 IRA’s with a broker (stocks/mutual funds), Jackson (VA) and Athene (FIA), this one site would compile the data and show the total acct balances, YTD withdrawals, total and remaining RMDs, etc.
Does anybody know if something like this exists?
Permalink Submitted by Alan - IRA critic on Tue, 2017-07-18 23:52
I am almost certain that there is not such a site. Each IRA custodian would have to feed information to such a site and it is not likely they would wish to incur that expense. I assume the annuities are IRA annuities or RMDs do not apply to them. Note that IRA annuities have can include some unique combinations of fringe benefits and there are some complex IRS rules to determine the RMDs for IRA annuities. The RMD could be higher than the calculation using the year end cash value of the account. The only safe source for the RMD on those annuities is the insurance company that holds them. Also remember that IRA RMDs can be aggregated, so the RMD for each account can be added up and then completed in any combination over the 3 IRA accounts.