Required Minimum Distribution (RMD) definition

Required Minimum Distribution (RMD). With respect to an ▇▇▇ Account, this is the minimum amount, calculated pursuant to Section 401(a)(9)(A) of the Code and the regulations thereunder, that must be distributed annually to a beneficial owner of an ▇▇▇, beginning within the time period prescribed under Section 401(a)(9)(C) of the Code and the regulations thereunder.
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Examples of Required Minimum Distribution (RMD) in a sentence

  • This Agreement constitutes the entire understanding of the parties and may not be modified or amended except by an instrument in writing executed by the parties hereto which expressly states that it is an amendment hereto.

  • Required Minimum Distribution (RMD) This provision applies if your contract is a Qualified Contract and is subject to required minimum distribution (RMD) provisions pursuant to the Internal Revenue Code (the "Code"), as amended from time to time, and the Treasury Regulations issued thereunder.

  • ICC20-70560 Minnesota Life 5 Required Minimum Distribution (RMD) This provision applies if your contract is a Qualified Contract and is subject to required minimum distribution (RMD) provisions pursuant to the Internal Revenue Code (the "Code"), as amended from time to time, and the Treasury Regulations issued thereunder.

  • A Required Minimum Distribution (RMD) is any distribution that must be distributed to you or a plan participant pursuant to Internal Revenue Code sections 401(a)(9), 403(b)(10), 408(b)(3) or 408A(c).

  • Your date of birth, as noted in Step 5 above, and relationship to the decedent will be used to calculate the Required Minimum Distribution (RMD) based on your life expectancy.

  • Amounts you are required to withdraw from your IRA to satisfy your Required Minimum Distribution ("RMD") for the year are not eligible for rollover.

  • The Custodian has no duty to remind you of any distribution obligation, including a Required Minimum Distribution (RMD) nor will such distribution be made unless requested by you.

  • In connection with Qualified Accounts, the additional amount (because of a Required Minimum Distribution (RMD)), if any, that the Certificate Owner may Withdraw from the Covered Asset Pool in excess of the Coverage Amount during any calendar year pursuant to Section 3.5. The Additional Coverage Amount will not be deemed to be an Excess Withdrawal or reduce the Coverage Amount in future years, if taken from the Covered Asset Pool after the Lock-In Date but prior to the Insured Event.

  • Required Minimum Distribution (RMD) Options (for Traditional or SEP IRA Owners age 70 1/2 or older): □ I wish to make a one-time withdrawal of my RMD for (year) in the amount of (shares) distributed per my instructions in Step 5.

  • If Required Minimum Distributions are applicable to this Contract (subject to IRS rules and regulations), and the Contract has been in effect through at least one calendar year-end, the Contract Owner can elect Required Minimum Distribution (RMD) withdrawals, which can be taken either as a one-time withdrawal or systematically.