Inherited IRA RMD Calculation

IRA Owner's Date of Birth

MM

DD

YYYY

IRA Owner's Date of Death

MM

DD

YYYY

Beneficiary Type

Is the nonspouse beneficiary an Eligible Designated Beneficiary?

Yes

No

Beneficiary's Date of Birth

MM

DD

YYYY

IRA Type

Year-End IRA Balance

Check Owner's Date of Birth

Check Owner's Date of Death

Check Beneficiary's Date of Death

Check Beneficiary's Date of Death

Enter a dollar amount

2024 Beneficiary Required Minimum Distribution

$

*

Uniform Lifetime Table

Modal title

The above required distribution information is based on the following inputs and assumptions:

IRA Owner's Date of Birth:

IRA Owner's Date of Death:

Beneficiary Type:

Beneficiary's Date of Birth:

IRA Type:

Year-End IRA Balance:

Applicable Denominator:

2024 Required Minimum Distribution:

S_LE:

NS_LE:

Owner-NR:

S-Compare:

NS-Compare:

Bene Type:

x:
y:
z:
j:
k:
l:
ALE:
YOD_uniform:

Special Instructions for Trust Beneficiaries

Special Instructions for Trust Beneficiaries

The IRA beneficiary distribution requirements applicable to Qualified See-Through Trusts are nuanced and complex. Distribution requirements can vary substantially depending on numerous factors including the types of individuals and/or entities that are eligible to receive proceeds under the terms of the trust and whether the trust is considered a conduit trust or an accumulation trust. Under certain circumstances, contingent beneficiaries – as well as primary beneficiaries – may need to be considered when determining what distribution requirements apply and, if applicable, whose life expectancy must be used to determine required minimum distribution calculations. Due to the complex nature of the distribution requirements for IRA trust beneficiaries, it is strongly recommended that beneficiaries seek competent tax/legal advice when determining IRA beneficiary distribution requirements for a trust beneficiary.

To calculate a required minimum distribution (RMD) for a Qualified See-Through Trust beneficiary, select either “Spouse,” “Nonspouse,” or “Nonperson” based on the applicable beneficiary status of the trust as prescribed under Proposed Treasury Regulation 1.401(a)(9)- 4(f) (for IRA owner deaths in 2020 or later) and Treasury Regulation 1.401(a)(9)-4; Q & A-5 (for IRA owner deaths before 2020).

Selecting “Spouse” will result in the calculator using the recalculation (vs. nonrecalculation) method of determining life expectancy. Accordingly, when calculating RMDs for a Qualified See-Through Trust beneficiary, the spousal option should only be selected for situations in which a surviving spouse is the sole underlying designated beneficiary of the trust.

The oldest designated beneficiary under the trust must generally be used when calculating RMDs for a Qualified See-Through Trust that has multiple designated beneficiaries.

Tool Methodology and Assumptions

Tool Methodology and Assumptions

This calculator is provided for educational purposes only. The information and results provided by this calculator are not intended to be used as tax advice or investment advice and should not be taken as such. The beneficiary has been advised to consult with a competent attorney/tax professional to confirm the accuracy of the tool’s RMD calculation based on their unique circumstances. The rules governing beneficiary required distributions are extremely nuanced and complex. The beneficiary is responsible for understanding the rules and determining whether use of this beneficiary RMD calculator is appropriate based on their specific circumstances.

The calculations returned are based solely on the information provided by the user. Users should be sure to verify the accuracy of the inputs used in the calculation, and the results are based on the following assumptions.

The beneficiary is the sole designated beneficiary or separate accounting has been executed so that the beneficiary can be treated as the sole designated beneficiary.
The Beneficiary Type (i.e., Spouse, Nonspouse-Eligible Designated Beneficiary, Nonspouse- Noneligible Designated Beneficiary, or Nonperson) has been properly determined.
When applicable, the beneficiary has taken the steps necessary to qualify for life expectancy distributions (e.g., documentation requirements, written beneficiary election requirements, etc.).
The beneficiary is familiar with the distribution requirements, default provisions etc. applicable to their Inherited IRA. In scenarios where the Inherited IRA is a Roth IRA or the IRA owner died before their required beginning date, this tool assumes that an Eligible Designated Beneficiary who has the option to elect between the 10-Year Rule and the Life Expectancy Payments, has elected or defaulted to the Life Expectancy Payment option.
A spouse beneficiary who is a sole designated beneficiary, under some IRA agreements, may be allowed to elect to be treated as the decedent thereby permitting the surviving spouse beneficiary to take required minimum distributions from the Inherited IRA based on the Uniform Lifetime Table beginning in the year the deceased IRA owner would have attained RMD-starting age. This tool does not address this option.
The trustee of an IRA trust beneficiary has worked with a competent attorney/tax professional to determine what distribution options are available to the trust beneficiary based on all relevant facts/circumstances and to determine—when applicable—the beneficiary type of the underlying beneficiary on which the required minimum distribution (RMD) calculation is premised and, when applicable, which underlying trust beneficiary’s date of birth must be used for the RMD calculation.
In scenarios where the IRA owner died in 2020 or a later year and the underlying trust beneficiaries that must be considered include at least one Minor Child Eligible Designated Beneficiary (EDB), the entire balance in the Inherited IRA may need to be depleted on or before December 31 of the year the oldest Minor Child EDB attains the age of 31. Depending on the scenario, this distribution requirement will not appear on the results screen.

Important Information

The information in the calculator is not intended to substitute professional tax, legal or investment planning advice. Consult with your tax advisor for details specific to your personal situation. Convergent Retirement Plan Solutions, LLC and Fidelity Investments are independent entities and are not legally affiliated. Information input into this tool will not be stored once the session is completed. This information is for educational purposes only. 1127464.1.0

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