Xxxxxx of 2020 RMD. In spite of the general rules described above, if you are a Traditional IRA owner age 70½ or older, you are not required to remove an RMD for calendar year 2020. This RMD waiver also applies to Traditional IRA owners who attained age 70½ in 2019 but did not take their first RMD before January 1, 2020. In addition, no Traditional or Xxxx XXX beneficiary life expectancy payments are required for calendar year 2020. If the five-year rule applies to an IRA with respect to any decedent, the five-year period is determined without regard to calendar year 2020. For example, if an IRA owner died in 2017, the beneficiary’s five-year period ends in 2023 instead of 2022.
Appears in 37 contracts
Samples: Ira Kit Agreement, Ira Prototype Plan Agreement, Combined Traditional/Roth Ira Kit
Xxxxxx of 2020 RMD. In spite of the general rules described above, if you are a Traditional an IRA owner age 70½ or older, you are not required to remove an RMD for calendar year 2020. This RMD waiver also applies to Traditional IRA owners who attained age 70½ in 2019 but did not take their first RMD before January 1, 2020. In addition, no Traditional or Xxxx XXX beneficiary life expectancy payments are required for calendar year 2020. If the five-five- year rule applies to an IRA with respect to any decedent, the five-year period is determined without regard to calendar year 2020. For example, if an IRA owner died in 2017, the beneficiary’s five-year period ends in 2023 instead of 2022.
Appears in 7 contracts
Samples: Individual Retirement Trust Account Agreement, Traditional Ira Adoption Agreement, Individual Retirement Custodial Account Agreement
Xxxxxx of 2020 RMD. In spite of the general rules described above, if you are a Traditional an IRA owner age 70½ or older, you are not required to remove an RMD for calendar year 2020. This RMD waiver also applies to Traditional IRA owners who attained age 70½ in 2019 but did not take their first RMD before January 1, 2020. In addition, no Traditional or Xxxx XXX beneficiary life expectancy payments are required for calendar year 2020. If the five-year rule applies to an IRA with respect to any decedent, the five-year period is determined without regard to calendar year 2020. For example, if an IRA owner died in 2017, the beneficiary’s five-year period ends in 2023 instead of 2022.
Appears in 4 contracts
Samples: Customer Account Agreement, Account Agreement, Account Agreement
Xxxxxx of 2020 RMD. In spite of the general rules described above, if you are a Traditional an IRA owner age 70½ or older, you are not required to remove an RMD for calendar year 2020. This RMD waiver also applies to Traditional IRA owners who attained age 70½ in 2019 but did not take their first RMD before January 1, 2020. In addition, no Traditional or Xxxx XXX beneficiary life expectancy payments are required for calendar year 2020. If the five-five- year rule applies to an IRA with respect to any decedent, the five-five- year period is determined without regard to calendar year 2020. For example, if an IRA owner died in 2017, the beneficiary’s five-year period ends in 2023 instead of 2022.
Appears in 4 contracts
Samples: Individual Retirement Account Custodial Agreement, Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement
Xxxxxx of 2020 RMD. In spite of the general rules described above, if you are a Traditional an IRA owner age 70½ or older, you are not required to remove an RMD for calendar year 2020. This RMD waiver also applies to Traditional IRA owners who attained age 70½ in 2019 but did not take their first RMD before January 1, 2020. In addition, no Traditional or Xxxx XXX beneficiary life expectancy payments are required for calendar year 2020. If the five-five‐ year rule applies to an IRA with respect to any decedent, the five-year five‐year period is determined without regard to calendar year 2020. For example, if an IRA owner died in 2017, the beneficiary’s five-year five‐year period ends in 2023 instead of 2022.
Appears in 1 contract
Xxxxxx of 2020 RMD. In spite of the general rules described above, if you are a Traditional an IRA owner age 70½ or older, you are not required to remove an RMD for calendar year 2020. This RMD waiver also applies to Traditional IRA owners who attained age 70½ in 2019 but did not take their first RMD before January 1, 2020. In addition, no Traditional or Xxxx XXX beneficiary life expectancy payments are required for calendar year 2020. If the five-five‐ year rule applies to an IRA with respect to any decedent, the five-five‐ year period is determined without regard to calendar year 2020. For example, if an IRA owner died in 2017, the beneficiary’s five-year five‐year period ends in 2023 instead of 2022.
Appears in 1 contract
Xxxxxx of 2020 RMD. In spite of the general rules described above, if you are a Traditional an IRA owner age 70½ or older, you are not required to remove an RMD for calendar year 2020. This RMD waiver also applies to Traditional IRA owners who attained age 70½ in 2019 but did not take their first RMD before January 1, 2020. In addition, no Traditional or Xxxx XXX beneficiary life expectancy payments are required for calendar year 2020. If the five-year rule applies to an IRA with respect to any decedent, the five-year period is determined without regard to calendar year 2020. For example, if an IRA owner died in 2017, the beneficiary’s five-five- year period ends in 2023 instead of 2022.
Appears in 1 contract
Samples: Simplified Employee Pension (Sep) Contribution Agreement
Xxxxxx of 2020 RMD. In spite of the general rules described above, if you are a Traditional Tradition IRA owner age 70½ or older, you are not required to remove an RMD for calendar year 2020. This RMD waiver also applies to Traditional IRA owners who attained age 70½ in 2019 but did not take their first RMD before January 1, 2020. In addition, no Traditional or Xxxx XXXX XXX beneficiary life expectancy payments are required for calendar year 2020. If the five-year rule applies to an IRA with respect to any decedent, the five-year period is determined without regard to calendar year 2020. For example, if an IRA owner died in 2017, the beneficiary’s five-year period ends in 2023 instead of 2022.
Appears in 1 contract
