Sentences with phrase «withdraw certain minimum amounts»

One mandatory distribution option is the life - expectancy method which requires you to withdraw certain minimum amounts — based on the previous year's year - end balance divided by the life expectancy number the IRS provides — starting the year following the year of the owner's death.

Not exact matches

RMDs are the minimum amounts you need to start withdrawing at a certain age.

And the usual associated terms and conditions is that you will not be able to withdraw your bonus AND your deposit until you meet a certain minimum trading amount.

When you reach age 70 1/2, you'll be required to withdraw at least a certain amount (called your «required minimum distribution,» or RMD) from your accounts every year and pay income taxes on these withdrawals.

If you choose to withdraw more than the minimum, then make certain to pay the tax owed on the total withdrawal amount.