Common use of REQUIRED DISTRIBUTIONS FROM A TRADITIONAL IRA Clause in Contracts

REQUIRED DISTRIBUTIONS FROM A TRADITIONAL IRA. Note that the IRS Uniform Lifetime Distribution Period Table referenced in the Traditional IRA Disclosure Agreement for use in calculating Required Minimum Distributions (RMDs) has been updated. The updated Table is applicable for distribution calendar years beginning on or after January 1, 2022. Until such time as the IRS updates Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), the updated Tables can be found in the Federal Register article located at xxxxx://xxx.xxxxxxx.xxx/content/pkg/FR-2020-11-12/pdf/2020-24723.pdf. The Uniform Lifetime Table can be found on page 7 of 32 of the article.