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Beneficiary Required Minimum Distribution (RMD)
When you are the beneficiary of a retirement plan specific IRS rules regulate the minimum withdrawals you must take. If you want to simply take your inherited money right now and pay taxes, you can. But if you want to defer taxes as long as possible, there are certain distribution requirements with which you must comply. Use this calculator to determine your Required Minimum Distributions (RMD) as a beneficiary of a retirement account.*
Definitions
- Account balance
- This is the fair market value of your account as of the close of business on December 31st of the preceding year.
- Beneficiary age as of 12/31 of distribution year
- This is the beneficiary's age as of December 31st of the distribution year.
- Beneficiary age as of 12/31 of the year following the owner's death
- This is the age of the beneficiary as of December 31st of the year following the account owner's death. For example, if the account owner died in March of 1999 you would need to enter the beneficiary's age as of December 31, 2000.
- Rate of return
- This is the expected rate of return on your account. This is only used to help project your future account balances (which of course will impact your required minimum distribution).
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