RMD withdrawal
I have an a few IRA CDs and a Tax-Deferred Annuity from Mutual of America so do I need to make withdrawals from the CD and the TDA or can I just withdraw from one to satisfy the withdrawal requirement
Terry Says
Is your tax-deferred annuity held INSIDE an IRA? If so, you should make a separate withdrawal from it — and have taxes withheld.
But just because an annuity is tax-deferred doesn’t make it subject to RMD rules. So if you didn’t buy it inside an IRA, you don’t have to take withdrawals.
However, now that you’ve reached the age of RMDs, in general, you should have someone take a look at the terms of the annuity. It might be time to start taking lifetime distributions to maximize your investment return.
