My husband gets retirement from the place he worked. I don't understand RMD?
An RMD, or required minimum distribution is a required minimum amount that your Husband must withdraw from his retirement once he reached the age of 70.5 years old. The IRS wants to be sure he is receiving and paying tax on distributions from his retirement accounts each year. If your husband is receiving regular monthly payments that have been determined by his plan provider, it is most likely an RMD.
My husband gets retirement from the place he worked. I don't understand RMD?
An RMD, or required minimum distribution is a required minimum amount that your Husband must withdraw from his retirement once he reached the age of 70.5 years old. The IRS wants to be sure he is receiving and paying tax on distributions from his retirement accounts each year. If your husband is receiving regular monthly payments that have been determined by his plan provider, it is most likely an RMD.
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