2021 RMD Requirements: Questions & Answers

2021 RMD requirements Q&Aretired woman in pink sweater working on finances in living room

2021 RMD Requirements You Need to Know

We’re experiencing a high than normal volume of calls related to the Fair Market Value (FMV) letters that were recently sent to our clients with an IRA Annuity.  In these letters, your Insurance Company reports the Fair Market Value of your annuity contract as of December 31 of the prior tax year and the required minimum distribution (RMD) amount they’ve calculated for 2021.

Many of the questions we’ve received are concerning the SECURE Act change and 2021 RMD Requirements, many have asked whether or not the CARES Act waiver of RMDs includes the calendar year 2021. In an attempt to help address these concerns, we’ve put together the following list of frequently asked questions.

2021 RMD Requirements: Questions and Answers

Below are the questions we’ve received most often along with the answer. If you find you still have questions we are available via phone and email, Monday thru Friday 8:30 to 5:30 EST.

Recent IRA News

Any information regarding taxation contained herein is based on our understanding of current tax law, which is subject to change and differing interpretations. This information should not be relied on as tax or legal advice and cannot be used by any taxpayer for the purposes of avoiding penalties under the Internal Revenue Code. We recommend that taxpayers consult with their professional tax and legal advisors for applicability to their personal circumstances.

Annuity contracts are distributed by My Annuity Store, Inc., Fishers, IN, 46037.  Annuity contracts are issued by a Life Assurance and payment obligations and guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.  Insurance products may not be available in all states. 

These companies are not undertaking to provide investment advice for any individual or in any individual situation, and therefore nothing in this should be read as investment advice. This material should not be interpreted as a recommendation by My Annuity Store, Inc. or any of its affiliates.  Please reach out to your financial professional if you have any questions about insurance products and their features, you may also contact us if you have any questions or concerns.

The term “financial professional” is not intended to imply engagement in an advisory business with compensation unrelated to sales. Financial professionals will be paid a commission on the sale of an annuity.

ANNUITIES ARE PRODUCTS OF THE INSURANCE INDUSTRY AND NOT GUARANTEED BY ANY BANK NOR INSURED BY FDIC OR NCUA/NCUSIF. MAY LOSE VALUE. NO BANK/CREDIT UNION GUARANTEE. NOT A DEPOSIT. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. MAY ONLY BE OFFERED BY A LICENSED INSURANCE AGENT.

Share with Your Friends

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email
Kiara Caudill

Kiara Caudill

I spent the first 10 years of my career as a clinical mental health therapist and I saw firsthand that finances play a large role in one’s happiness. A good financial plan is not only important to your financial health it’s also important to your mental health. I approach financial planning from a behavioral finance perspective using a goals-based approach. Kiara holds a B.A. Degree in Psychology from Goshen College and an M.A. in Clinical Mental Health Counseling from Valparaiso University.

Our Recent Posts

Annuity Ladders Featured Image of Woman Climbing Steel Ladder in the Sky with White Clouds in Background and My Annuity Store Logo Bottom Left Corner
Annuities 101

My Annuity Ladder Beats Your Bond Ladder

Annuity Ladder What is an Annuity Ladder? An annuity ladder is an investment technique in which an investor purchases multiple annuities with different maturity dates

Athene AccuMax Annuity Review Picture of Hourglass with white sand sitting next to glass jar with American Cash in it
Annuity Reviews

Athene AccuMax Annuity Review

Athene AccuMax Annuity Review The Athene Accumax is a fixed index annuity designed to provide more upside accumulation potential and downside protection from market volatility.

Picture of Starry Sky with the text "Retirement Income Planning Isn't Rocket Science it Just Requires a Change in Perspective" Best Annuity Income Riders.
Fixed Index Annuity

Best Annuity Income Riders

Best Annuity Income Riders Guide for Beginners Annuity income riders are optional benefits that can be attached to many variable annuity and fixed index annuities

Drop Us a Note

Get help when you want it.

We Make Annuities Easy Because Retirement Isn't Supposed to Be Hard

Red Map Location Icon Box Link with My Annuity Store, Inc. address

Address

10497 Balroyal Ct.,
Fishers, IN 46037

Red Icon of a Presentation Board links to My Annuity Store Calendar

Calendar

Schedule a Meeting.

envelope with @ symbol for email address

Email

info@myannuitystore.com
sales@myannuitystore.com

Red Cellular Phone Line Icon Linking to Schedule a Consultation Page

Phone

+1855-583-1104

Annuities are distributed by My Annuity Store, Inc. Guarantees are subject to the claims-paying ability of the insurer. My Annuity Store, Inc. does not advise clients on the purchase of non-fixed annuity products. The information presented here is not of tax or legal nature and is not intended to be a recommendation to purchase a fixed annuity, fixed index annuity, variable annuity contract, registered index-linked annuity (RILA), immediate annuity (SPIA), longevity annuity, or Qualified Longevity Annuity Contract (QLAC). 

The contract features described may not be current and may not apply in the state in which you reside. Annuities are issued by Insurance companies and contracts are ‘state-specific. Insurance companies also change their products and information often and without notice. Annuities are subject to the terms and conditions of the specific contract issued by the insurer, are not FDIC or NCUA insured, are not bank guaranteed, may lose value, and are not a deposit. Please call (855) 583-1104 if you have any questions or concerns. 

The information presented here is not a representation regarding the suitability of any concept or product(s) for an individual and it does not provide tax, accounting, or legal advice. It is important to read the prospectus carefully and consider your objectives, risks, fees, and charges associated with the contract. You should always consult your own financial planning, tax, and legal counsel to determine if a fixed annuity, immediate annuity, longevity annuity, or Qualified Longevity Annuity Contract are suitable in your financial situation.

Stay Informed

Sign up for to Receive monthly annuity rate update

My Annuity Store Login Logo