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Level 1
posted Jan 21, 2021 1:41:33 PM

Are RMDs required for non-qualified annuity accounts. I thought RMDs were required for IRA/SEP/SIMPLE annuity accounts.

The RMD instructions on the form indicates ALL accounts require an RMD.  Is the instrutrions correct or needs clarifcation?

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1 Best answer
Expert Alumni
Jan 21, 2021 2:42:41 PM

You are correct, you are not required to make a minimum distribution from a non-qualified annuity. Where are you seeing the instructions that indicate that all accounts require a RMD?

3 Replies
Expert Alumni
Jan 21, 2021 2:42:41 PM

You are correct, you are not required to make a minimum distribution from a non-qualified annuity. Where are you seeing the instructions that indicate that all accounts require a RMD?

Level 1
Jan 24, 2021 1:11:24 PM

The instruction is in each individual annuity.  It says Is the interest part or all for the RMD.  This remark is noted in all IRA/SEP/SIMPLE and non-qualified annuities.  Someone should notify TurboTax and make the correction.  Meanwhile I'm marking "Yes" - to ALL my annuities.

Expert Alumni
Jan 24, 2021 1:59:53 PM

There are no required minimum distributions for non-qualified annuities.