Solved: I was told I do not have to seek a RMD because I g...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

I was told I do not have to seek a RMD because I get $441.53 monthly from an Athene Annuity. But the other pensions want me to file for RMDs. Do I seek RMDs?

Do I need to seek a RMD? I was told because I get $441.53 monthly from an Athene Annuity, that satisfies the requirement. But the other pensions want me to file for RMDs. I turn 72 this week. What do I do?
1 Best answer

Accepted Solutions
Level 15

I was told I do not have to seek a RMD because I get $441.53 monthly from an Athene Annuity. But the other pensions want me to file for RMDs. Do I seek RMDs?

Right, with regard to qualified retirement plans, periodic payments being received as an annuity are their own RMDs.  For qualified retirement plans that are not being paid out as periodic payments from annuity, these require separate distributions of RMDs based on the previous year's yer-end balance.

View solution in original post

5 Replies
Level 15

I was told I do not have to seek a RMD because I get $441.53 monthly from an Athene Annuity. But the other pensions want me to file for RMDs. Do I seek RMDs?

Does your traditional IRA hold an annuity?  If so, what type of annuity-- such as immediate, longevity, or deferred variable annuity?  This can get complicated, so I'm going to ask someone familiar with retirement plans to assist here.

 

@dmertz Are you able to assist here when you are next in the forum?  Thanks.

 

 

Level 15

I was told I do not have to seek a RMD because I get $441.53 monthly from an Athene Annuity. But the other pensions want me to file for RMDs. Do I seek RMDs?

If you get regular payments that satisfies the RMD.  But yes you have to take the RMD from any IRA and 401K accounts starting the year you turn 70 1/2.  If you are turning 72 you should have started taking it by April 1, 2019.  So in 2019 you need to take 2 years of RMD.  

Level 15

I was told I do not have to seek a RMD because I get $441.53 monthly from an Athene Annuity. But the other pensions want me to file for RMDs. Do I seek RMDs?

Right, with regard to qualified retirement plans, periodic payments being received as an annuity are their own RMDs.  For qualified retirement plans that are not being paid out as periodic payments from annuity, these require separate distributions of RMDs based on the previous year's yer-end balance.

View solution in original post

New Member

I was told I do not have to seek a RMD because I get $441.53 monthly from an Athene Annuity. But the other pensions want me to file for RMDs. Do I seek RMDs?

Thank you! 

New Member

I was told I do not have to seek a RMD because I get $441.53 monthly from an Athene Annuity. But the other pensions want me to file for RMDs. Do I seek RMDs?

Thank you!

Dynamic Ads
v
Privacy Settings