A required minimum distribution (RMD) is the minimum amount the IRS requires you to withdraw from your IRA each year once you reach the applicable age. The amount changes annually and is calculated based on factors such as your account value and IRS life expectancy tables.
Under the SECURE 2.0 Act, most IRA owners must begin taking RMDs at age 73.
STRATA calculates your annual RMD and provides the amount to eligible accountholders by January 31 each year. You can also view your calculated RMD in the Quick Summary section of your online account portal.
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.
Note: Failing to take your full RMD may result in IRS penalties, so be sure to review your amount and submit withdrawal instructions in time to complete the distribution before year-end. To initiate an RMD submit STRATA's IRA Distribution Request form.