RMD

Forum|Forum|3 years ago
September 21, 2022
2 replies
10 views

For purposes of calculating RMD amount, what is considered more than one account?

When I retired, I rolled my403b over to Vanguard in its entirety. That was then subdivided into a stock fund, a bond fund, and a mixed fund.

Is that considered one retirement acct or three?

thank you.

Not A Product Question

rjs

Level 15

You probably have one IRA that owns shares of three different mutual funds. One IRA can contain multiple investments, but the IRA is one account. If you're not sure, ask Vanguard.

VolvoGirl

Level 15

IRA Distributions and RMD, see Pub 590B page 7

https://www.irs.gov/pub/irs-pdf/p590b.pdf

Each IRA plan might automatically send you a letter saying the RMD amount you need to take at the beginning of the year. Mine did. If they are the same kind of accounts like IRA you can take the total RMD for all of them from one account or split it up. You have to take the RMD separately from IRA and 401k accounts.

Once you determine a separate required minimum distribution from each of your traditional IRAs, you can total these minimum amounts and take them from any one or more of your traditional IRAs.

See this IRS FAQ on RMDs….

http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-Required-Minimum-Distributions

Here is a worksheet to calculate the RMD

https://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf