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Definition The minimum amount that must be withdrawn from retirement accounts, including qualified plans, 403(b) accounts, 457(b) accounts or IRAs, each year.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
March 3, 2009
A rollover (or rollover contribution) is a redeposit of assets that were withdrawn from a retirement account, such as an IRA, qualified plan, 403(b) account or a 457(b) plan, to an eligible retirement account/plan. (See chart on page 1 for the plans between which rollovers can be completed.) There are two types of rollovers, namely, indirect rollovers and direct rollovers. Withdrawals representing both types of rollovers are reported on IRS Form 1099-R. If the receiving account is an IRA, the rollover is reported on IRS Form 5498.
Definition The minimum amount that must be withdrawn from retirement accounts, including qualified plans, 403(b) accounts, 457(b) accounts or IRAs, each year.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
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
Definition Individual retirement arrangement (IRA) is an umbrella term that covers individual retirement account and individual retirement annuity. These are retirement savings vehicles established by
Who is an active participant? Active participant status affects an individual’s eligibility to take a deduction for a contribution to a traditional IRA on his/her
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