Are required withdrawals from traditional IRA’s account-specific?

Home Fairmark Forum Retirement Savings and Benefits Are required withdrawals from traditional IRA’s account-specific?

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  • #4984
    rc77z
    Participant

    An account representative at a mutual fund company where I have several IRA accounts told me that Required Minimum Distributions can be met by simply withdrawing the total amount that is owed (i.e., from all IRAs that are subject to RMDs) in any way the account owner chooses.

    In other words, the total distribution doesn’t have to include any withdrawals from a particular custodian or account, it just has to meet or exceed the minimum required amount.

    Is that correct?

    #4989
    Alan S.
    Participant

    Yes, that is correct. While an RMD must be calculated FOR each IRA account, then added together to determine the total, that total can be split up in any combination desired in determining how much will be distributed from any one IRA account. Therefore, you could complete the total RMD for all by withdrawing from just one account. This is known as the IRA RMD aggregation rule.

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