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Your wording is interesting. If there’s no IRS penalty for any shortfall, why am I even taking RMDs? How are they actually “required?”
I’ve been taking the correct required minimums based on my own calculations, so there have been no historic shortfalls over the past several years on this specific annuity. I’m not sure if MetLife was calculating the RMDs correctly, but I always took a few dollars extra each year either way.
For calculating my first Nationwide distribution in 2018, I used 44.4 and then added an extra $2 on top of that. If Nationwide had originally coded the contract properly, they should have informed me of an RMD amount of $1,860.01 based on a 12/31/2017 value of $82,584.43. I actually took $1,862.00.