Common use of IRA Distributions Clause in Contracts

IRA Distributions. You or, after your death, your beneficiary may take the year you attain age 72, which is your required beginning date an IRA distribution, in cash or in kind based on our policies, at any time. (RBD). For tax years 2019 and earlier, the law required you to take However, depending on the timing and amount of your distribution you your first RMD by April 1 following the year you attained age may be subject to income taxes or penalty taxes. 70 1/2. Second year and subsequent distributions must be taken by