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According to IRS.gov, Required Minimum Distributions (RMDs) generally are minimum amounts that a retirement plan account owner must withdraw annually starting with the year that he or she reaches 72 (70 ½ if you reach 70 ½ before January 1, 2020), if later, the year in which he or she retires. This applies to Traditional IRA's only as Roth IRAs do not have RMD's.
RMD's also apply to Inherited (Beneficiary IRA's), but have special distribution rules, which you should discuss with your tax/financial advisor.
Please keep in mind that iTrustCapital's administrator will notify a client annually that their account has an RMD. However, we will not provide the amount. This is information you need from your tax/financial advisor. Once you know the amount that needs to be withdrawn, please request a distribution through the 'Message Us' feature on your dashboard or submit a request.
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