Designated Beneficiary. A designated beneficiary is any individual uses his/her age at the end of the year following the year of death you name as a beneficiary who has an interest in your IRA on the to determine the initial single life expectancy divisor and reduces determination date, which is September 30 of the year following the this number by one for each following year's RMD calculation. year of your death. Certain qualifying trusts can also be a designated However, if you die on or after your RBD, your beneficiary uses beneficiary. For a qualifying trust to be a designated beneficiary, the the longer of your remaining life expectancy, determined in your qualifying trust beneficiaries must be designated beneficiaries. year of death and reduced by one in each subsequent year, or
Appears in 11 contracts
Sources: Traditional Individual Retirement Custodial Account, Individual Retirement Custodial Account Adoption Agreement, Individual Retirement Custodial Account Adoption Agreement
Designated Beneficiary. A designated beneficiary is any individual uses his/her age at to determine the end of the year following the year of death initial single life expectancy divisor and reduces you name as a beneficiary who has an interest in your IRA on the to determine the initial single life expectancy divisor and reduces this number by one for each following year's RMD calculation. determination date, which is September 30 of the year following the this number by one for each following year's RMD calculation. year of your death. Certain qualifying trusts can also be a designated However, if you die on or after your RBD, your beneficiary uses beneficiaryyear of your death. For a Certain qualifying trust to trusts can also be a designated beneficiary, the the longer of your remaining life expectancy, determined in your designated beneficiary. For a qualifying trust beneficiaries must to be a designated beneficiaries. year of death and reduced by one in each subsequent year, oror beneficiary, the qualifying trust beneficiaries must be designated your beneficiary uses his/her life expectancy in the year beneficiaries. following the year of your death, reduced by one for each
Appears in 3 contracts
Sources: Individual Retirement Custodial Account Adoption Agreement, Individual Retirement Custodial Account Adoption Agreement, Individual Retirement Custodial Account Adoption Agreement