If you’re ready to request your Required Minimum Distribution (RMD), you can follow the instructions on our RMD Request Page.
How We Process RMDs
At MidAtlantic IRA, we aim to make RMDs as straightforward as possible. Here’s a general look at how the process works:
- Calculating Your RMD
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Each year, we calculate your RMD based on your prior year-end account balance and your age using the IRS life expectancy tables.
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For self-directed IRAs, this calculation depends on the Fair Market Value (FMV) of your assets. As the account holder, you are responsible for submitting updated FMVs each year.
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⚠️ If FMVs are not current, the calculation may be incorrect, which could lead to IRS penalties.
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- 2. Selecting a Distribution Method
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Clients can typically receive their RMD by check, ACH/direct deposit, or wire transfer (fees apply).
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The distribution method you select determines how and when you’ll receive your funds.
3. Submitting Your Request
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RMD requests must be submitted to our office each year. Processing cannot begin without your signed request.
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Once received, our team confirms and processes the request, and you’ll be notified once the distribution is complete.
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Deadlines to Know
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The IRS requires all RMDs to be taken by December 31 each year.
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At MidAtlantic IRA, we encourage clients to submit requests by November 15 to avoid delays and additional processing fees.
We’re Here to Help
Our role is to calculate your RMD, process your request, and keep you on track with IRS requirements. For guidance on how RMDs fit into your tax planning or retirement strategy, we recommend speaking with a qualified financial or tax advisor.
Additional Resources
Bottom line: RMDs don’t need to be complicated. MidAtlantic IRA handles the calculations and processing once your Fair Market Values are current, and you submit your request on time. Request your RMD here to get started.