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Required Minimum Distributions

Required Minimum Distributions - All calculators have been updated for the changes required by the final regulations as released by the IRS and all calculations use the Annuity 2003 Table for calculations of the Minimum Distribution factors.

The Required Beginning Date (RBD) for a traditional IRA is April 1 of the calendar year following the year in which the owner attains the age of 70 1/2.

Failing to take a minimum distribution (MD) after the required beginning date (RBD) will result in a penalty tax of 50 percent of the amount that should have been distributed and wasn't.

Since the Trustee/Custodian will be reporting the required minimum distribution information to the IRS, required distributons will be easier for the IRS to monitor.

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