Trustees, custodians, and issuers of IRAs (trustees) must make reports on minimum distributions to IRA owners and the IRS. If a minimum IRA distribution is…
For Tax Year 2015 and beyond on IRS Form 5498, the IRS now requires IRA custodians to separately specify transactions which involve certain Self-Directed IRA…
The terms of an independent retirement account or annuity must include several minimum distribution rules, which Congress imposed to ensure that IRAs are primarily used…
The account owner is taxed at his or her income tax rate on the amount of the withdrawn RMD
The IRA or retirement plan account owner is ultimately responsible for calculating the amount of the RMD.