Does this info need to be entered in this year's taxes? I have a form from my credit union called: 2021 IRA Fair Market Value and 2022 RMD Statement.

[Vanessa A]

It depends on how old you are.  If you were over 72 at the end of 2021 (or over 70.5 in 2019), you would need this information to determine your Required Minimum Distribution. You would enter this by selecting

• Federal
• Income
• Show More next to Retirement Plans and Social Security
• Start next to IRA, 401K, Pension Plan Withdrawals 

If you were under 72 (or 70.5 in 2019) and are still making contributions to your IRA, then you would enter this by selecting 

• Federal
• Deductions and Credits
• Show More next to Retirement and Investments
• Start next to Traditional and Roth IRA Contributions

If you did not make any contributions and are under 72, then you can still enter your contributions for tracking purposes into TurboTax, but you do not have to as this would just be information for your records. 

[SteamTrain]

I'd check with the bank....since we can't see the details on that letter

It almost sounds as if they are giving you the value of your IRA at the end of 2021,

.....and are then telling you what the RMD would be that you will need to take out this year, based on the stated value of that IRA.