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Required Minimum Distribution Prior to Transfer Athene Annuity & Life Assurance Company of New York 1. Contract Information Contract Number(s) Name of Contract Owner/Annuitant Street Address, City,

How to fill out required minimum distribution

How to fill out required minimum distribution:

1. Start by determining your required minimum distribution (RMD) deadline. The deadline for taking your RMD is generally April 1st of the year following the year you turn 72 (or 70½ if you attained 70½ before January 1, 2020).
2. Calculate your RMD amount. The Internal Revenue Service (IRS) provides various worksheets and life expectancy tables to help you determine the correct amount. Generally, you divide the balance of your retirement account by your life expectancy factor.
3. Contact your retirement account custodian or administrator. They can provide you with the necessary forms and guidance on how to fill them out correctly. You may need to provide personal information, such as your name, account number, and address.
4. Follow the instructions on the forms provided by your custodian. Typically, you will need to indicate the amount you are withdrawing as your RMD and specify if you want any taxes withheld from the distribution.
5. Submit the completed forms to your custodian before the deadline. Be sure to keep a copy for your records.

Who needs required minimum distribution:

1. Individuals who have a traditional IRA, SEP IRA, SIMPLE IRA, or a retirement plan account, such as a 401(k), 403(b), or 457(b), are generally required to take RMDs.
2. Generally, if you turned 72 (or 70½ if you attained 70½ before January 1, 2020) by the end of the tax year, you need to take RMDs.
3. Certain exceptions exist, such as for individuals who are still actively working and contributing to an employer's retirement plan or those who have Roth IRAs (although they may need to take RMDs from inherited Roth IRAs).

It is important to consult with a financial advisor or tax professional to fully understand your specific RMD requirements and ensure compliance with IRS regulations.

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What is required minimum distribution?

Required minimum distribution (RMD) is the minimum amount of money that must be withdrawn from tax-deferred retirement accounts once the account holder reaches a certain age.

Who is required to file required minimum distribution?

Individuals with tax-deferred retirement accounts, such as Traditional IRAs and 401(k) plans, are required to file required minimum distribution.

How to fill out required minimum distribution?

To fill out required minimum distribution, account holders must calculate the distribution amount based on their age and account balance, and then withdraw the required amount from their retirement account.

What is the purpose of required minimum distribution?

The purpose of required minimum distribution is to ensure that individuals start withdrawing funds from their tax-deferred retirement accounts and paying taxes on those funds once they reach a certain age.

What information must be reported on required minimum distribution?

Required minimum distribution must include the calculated distribution amount, the account holder's age, and the type of retirement account from which the distribution is being made.