RMD Communication to Plan Participants and Beneficiaries
General education regarding RMD rules and regulations.
Participants must receive required minimum distributions (RMDs) from their qualified retirement plan each year once they reach their required beginning date (generally age 73, including 5% owners) or no longer work for the employer sponsoring the workplace savings plan.1 Additionally, beneficiaries of participants who died before the effective date of the SECURE Act must
- begin receiving at least annual RMDs by December 31 of the calendar year following the death of the participant, or
- receive a distribution of all assets by December 31 of the calendar year following the calendar year of the participant’s death.
The RMD rules are complex, which is why we developed communications to help make the process of managing RMDs easier.
When will these communications deploy?
Annually (Q3)
Who is eligible? Who will receive these communications?
- Participants who previously received first RMD but did not establish a systematic withdrawal for future RMDs on our system. (Note: Participants may be in a plan using our automatic payment service or non-automatic payment service.)
- Beneficiaries of an inherited retirement plan account who are required to withdraw all assets by December 31 of the following year.
- Beneficiaries of an inherited retirement plan who are required to withdraw all assets by December 31 of this current year.
If you have questions, including information about Fidelity’s automatic payment service, please contact your Fidelity representative.