Common use of Multiple IRAs Clause in Contracts

Multiple IRAs. If you have more than one Traditional IRA, you must determine the RMD separately for each Traditional IRA based on the account balance and beneficiary of each IRA. After you have calculated each Traditional IRA’s RMD, you add the RMD amounts and withdraw the total amount from any one or more of your Traditional IRAs. Check with your tax advisor to verify that you are withdrawing at least the minimum required amount from all of your IRAs.