Required Minimum Distribution (RMD)

The Required Minimum Distribution is the minimum amount which must be distributed from your IRA for a given year by the applicable deadline.

RMD Helpful Hints

Don’t Delay

Especially if your IRA holds illiquid, alternative assets that cannot be easily sold or exchanged for cash. For certain assets, it’s important to note that withdrawals may only be allowed at certain times throughout the year – quarterly, semi-annually, or annually – so timing should be considered.

Start Planning in JULY

Illiquid Assets

Private Equity / Debt
Real Estate
Hedge Funds

Start Planning in October

Liquid Assets

Precious Metals
Public Stock
Mutual Funds

Know the Process

Each situation is unique and may require different steps to complete. Fees are not included in the total amount needed to satisfy your RMD.

Taking your RMD elsewhere

No further action is required.

New Account with GoldStar

For accounts opened/funded after 12.31.2021, please contact your previous custodian for your required minimum distribution amount.

Cash Distribution

Cash is currently available in the account to the meet the RMD without liquidating an asset. Please complete the One-Time Distribution Form.

 

e-Sign or Download the PDF form of the One-Time Distribution Request

use the e-sign optiondownload the PDF option

Liquidation

Cash is not currently available in the account and a liquidation must be completed to meet the RMD. For all assets, please complete the One-Time Distribution Form as well as any other applicable asset specific paperwork. Fees will be deducted from the available amount unless the fees are paid via check or with credit card.

 

e-Sign or Download the PDF forms

One-Time Distribution Request – complete for all assets.

use the e-sign optiondownload the PDF option

Precious Metals – Precious Metals Investment Direction (required to liquidate). Sales details will need to be locked in between you and your precious metals dealer.

use the e-sign optiondownload the PDF option

Stocks, Mutual Funds & CDs – Publicly Traded Investment Direction

download the PDF option

Other liquid Assets – Contact your asset sponsor for their specific liquidation paperwork requirements.

In-Kind Distributions

When sufficient cash is not available and assets are not liquid, you may have to take an in-kind distribution. A distribution in-kind is a payment made in the form of securities or other property instead of in cash.  To request an in-kind distribution, you will need to complete the One-Time Distribution Form.

  • For timely processing, ensure that you list out the specific asset(s) you wish to distribute in-kind under Partial In-Kind Distribution Asset Description in Part 3 of the One-Time Distribution Form.
  • Federal Withholding – elect to not withhold federal income tax unless sufficient cash is available for at least 10%.
  • Fee Letter – A fee letter will be emailed and mailed to you once we have received your request. The fee letter will provide you with a total of any outstanding fees that are due to complete your RMD.
e-Sign or Download the PDF forms

One-Time Distribution Request

use the e-sign optiondownload the PDF option

Distribution Service Fees

Fees must be paid prior to the processing of the distribution request. Fees are not included in the total amount needed to satisfy your RMD. Distribution fees will apply for sending funds via check, ACH, or wire. For a full list of fees, please review our Fee Schedule.

Dates Matter

  • If you attain age 72 on or after July 2, 2022, you will have until April 1, 2023, to distribute your 2022 RMD.
  • If you attain age 72 between January 1, 2022, and July 1, 2022, your RMD will need to be distributed by December 31, 2022, as you would have turned age 70 ½ prior to January 1, 2021.
  • If you attained age 72 in a previous year, your RMD will need to be distributed by December 31, 2022.

Uniform Lifetime Table (2022 & Later Years)

Age Distribution Period
72 27.4
73 26.5
74 25.5
75 24.6
76 23.7
77 22.9
78 22
79 21.1
80 20.2
81 19.4
82 18.5
83 17.7
Age Distribution Period
84 16.8
85 16
86 15.2
87 14.4
88 13.7
89 12.9
90 12.2
91 11.5
92 10.8
93 10.1
94 9.5
95 8.9
Age Distribution Period
96 8.4
97 7.8
98 7.3
99 6.8
100 6.4
101 6
102 5.6
103 5.2
104 4.9
105 4.6
106 4.3
107 4.1
Age Distribution Period
108 3.9
109 3.7
110 3.5
111 3.4
112 3.3
113 3.1
114 3
115 2.9
116 2.8
117 2.7
118 2.5
119 2.3
120+ 2

The material on this page is for informational purposes only. GoldStar Trust Company performs the duties of a self-directed custodian and as such does not provide investment, legal, or tax advice.

GoldStar Trust Company does not automatically make distributions without a request. Failure to remove the RMD can result in an excess accumulation penalty from the IRS equal to 50% of the amount that should have been withdrawn. To ensure that your RMD is completed in time, please submit a distribution request to GoldStar no later than October 31, 2022.

GoldStar does not keep record of the election chosen by beneficiaries as it is the responsibility of the beneficiary. The RMD rules for beneficiaries can be complicated and GoldStar recommends that you consult with a qualified tax advisor or CPA to determine if an RMD is required from your Inherited IRA this year and to help you set up an RMD schedule so your distributions can be withdrawn appropriately to avoid tax penalties.

Still have questions? Contact our Investor Services Department at 800.486.6888

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