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March 25, 2009


Retirement-Industry term used to refer to a transaction that occurs in a retirement account, which the plan administrator, IRA custodian, or payer is required to report to the IRS and the account owner. Examples include:

Referring Cite


Additional Helpful Information

The following transactions are non-reportable:
  • A trustee-to-trustee transfer between two accounts of similar type , for example between two traditional IRAs, between a traditional IRA and a SEP IRA, from a SIMPLE IRA that has met the two year requirement to a traditional IRA or a SEP IRA, from a SIMPLE IRA to another SIMPLE IRA or between two Roth IRAs
  • A movement of assets between accounts under the same qualified plan, 403(b) or 457(b) account
  • Fees paid from the account, such as administrative or management fees
  • Total distributions of less than $10

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Applicable RMD Age The first year for which an IRA owner or plan participant must begin to take RMDs from their tax-deferred retirement account. RMDs

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Required Minimum Distribution (RMD)

Definition The minimum amount that must be withdrawn from retirement accounts, including qualified plans, 403(b) accounts, 457(b) accounts or IRAs, each year.  For retirement account

Required beginning date (RBD)

Definition The date by which a retirement account owner must begin distributing required minimum distribution (RMD) amounts from a Traditional,  SEP or SIMPLE IRA, a

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