It depends.
If this is a qualified contributions plan (such as an IRA, 401(k) plans, 403(b) plans, or 457(b) plans), you will need to contact your retirement plan administration to get information about your RMD.
However, you will meet the RMD requirements related to your
employer pension plan distributions (see below)
Since the IRS requires the reporting of all RMD
payments relates to all qualified plans (and an employer pension plan falls
under this category), the system will still ask about RMD (even if it does not
apply to your pension distributions).
A qualified plan is a retirement plan sponsored
by employers for the exclusive benefit of employees. These plans follow
special IRS rules and qualify for special tax treatment, such as deferring
paying taxes on the contributions until retirement.
As for the required minimum distribution (RMD), you
are required to take your RMD for your IRA and 401(k) accounts. However, if you are asked a question about taking
an RMD (because you meet the age requirements) from a pension (only) when
entering your 1099-R information, the answer is "yes" that this
withdrawal was an RMD and that all the distribution was an RMD (screenshot)
According to the
IRS, you must take your first required minimum distribution for the year in
which you turn age 70½. However, the first payment can be delayed until April 1
of the year following the year in which you turn 70½. For all subsequent years,
including the year in which you were paid the first RMD by April 1, you must
take the RMD by December 31 of the year.
The RMD rules apply
to all employer sponsored retirement plans, including profit-sharing plans,
401(k) plans, 403(b) plans, and 457(b) plans. The RMD rules also apply to
traditional IRAs and IRA-based plans such as SEPs, SARSEPs, and SIMPLE IRAs.
Please click this
link IRS
- Retirement Plan and IRA required minimum distributions for more
information.
