Your RMD is based on your account balance as of December 31 of the year that precedes the year you are taking the distribution. That number is then divided by the amount indicated in the IRS’s Uniform Lifetime Table.
STRATA calculates and provides RMD amounts for eligible IRA accounts by January 31 each year. If applicable to your account, the calculated RMD is shown in the Quick Summary section of your online account portal.
Please note:
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Multiple accounts: STRATA's calculation is based only on the IRA accounts held with STRATA. If you have retirement accounts with other custodians, inherited IRAs, or unique circumstances that may affect your RMD, consult a qualified tax professional.
- Inherited IRAs: STRATA does not calculate RMD amounts for inherited accounts. If you are a beneficiary, you are responsible for determining your required distribution. We recommend consulting a qualified tax professional for assistance.
- RMD amounts: You are not limited to withdrawing only your RMD amount. You may take distributions in excess of your required minimum distribution; however, amounts withdrawn above your RMD do not count toward future years' RMD requirements.
- IRS reporting: All distributions taken from your account during the year will be reported on IRS Form 1099-R.
- RMD calculator: Visit STRATA's RMD calculator to view different scenarios.