Required Minimum Distribution (RMD)
The Required Minimum Distribution is the minimum amount which must be distributed from your IRA for a given year by the applicable deadline.
RMD Helpful Hints
Don’t Delay
Especially if your IRA holds illiquid or alternative assets that cannot be easily sold or exchanged for cash. For certain assets, it’s important to note that withdrawals may only be allowed at certain times throughout the year – quarterly, semi-annually, or annually – so timing should be considered.
Start Planning in JULY
Illiquid Assets
Private Equity / Debt
Real Estate
Hedge Funds
Start Planning in October
Liquid Assets
Precious Metals
Public Stock
Mutual Funds
Know the Process
Each situation is unique and may require different steps to complete. Fees are not included in the total amount needed to satisfy your RMD.
Taking your RMD elsewhere
No further action is required. You are not required to notify GoldStar Trust Company that you are taking the distribution from another IRA.
New Account with GoldStar
For accounts opened/funded after 12/31/2023, please contact your previous custodian for your required minimum distribution amount.
Cash Distribution
Cash is currently available in the account to the meet the RMD without liquidating an asset. Please complete the One-Time Distribution Form.
e-Sign or Download the PDF form of the One-Time Distribution Request
Liquidation
Cash is not currently available in the account and a liquidation must be completed to meet the RMD. For all assets, please complete the One-Time Distribution Form as well as any other applicable asset specific paperwork. Fees will be deducted from the available amount unless the fees are paid via check or with credit card.
e-Sign or Download the PDF forms
One-Time Distribution Request – complete for all assets.
Precious Metals – Precious Metals Investment Direction (required to liquidate). Sales details will need to be locked in between you and your precious metals dealer.
Stocks, Mutual Funds & CDs – Publicly Traded Investment Direction
Other liquid Assets – Contact your asset sponsor for their specific liquidation paperwork requirements.
In-Kind Distributions
When sufficient cash is not available and assets are not liquid, you may have to take an in-kind distribution. A distribution in-kind is a payment made in the form of securities or other property instead of in cash. To request an in-kind distribution, you will need to complete the One-Time Distribution Form.
- For timely processing, ensure that you list out the specific asset(s) you wish to distribute in-kind under Partial In-Kind Distribution Asset Description in Part 3 of the One-Time Distribution Form.
- Federal Withholding – elect to not withhold federal income tax unless sufficient cash is available for at least 10%.
- Fee Letter – A fee letter will be emailed and mailed to you once we have received your request. The fee letter will provide you with a total of any outstanding fees that are due to complete your RMD.
e-Sign or Download the PDF forms
One-Time Distribution Request
Distribution Service Fees
Fees must be paid prior to the processing of the distribution request. Fees are not included in the total amount needed to satisfy your RMD. Distribution fees will apply for sending funds via check, ACH, or wire. For a full list of fees, please review our Fee Schedule.
Dates Matter
- The SECURE 2.0 Act of 2022 increased the RMD age in 2023 from age 72 to 73.
- If you attain age 73 in 2024, you will have until April 1, 2025 to withdraw your 2024 RMD.
- If you attained age 73 in a previous year, your 2024 RMD will need to be withdrawn by December 31, 2024.
Uniform Lifetime Table (2023 & Later Years)
| Age | Distribution Period |
| 72 | 27.4 |
| 73 | 26.5 |
| 74 | 25.5 |
| 75 | 24.6 |
| 76 | 23.7 |
| 77 | 22.9 |
| 78 | 22 |
| 79 | 21.1 |
| 80 | 20.2 |
| 81 | 19.4 |
| 82 | 18.5 |
| 83 | 17.7 |
| Age | Distribution Period |
| 84 | 16.8 |
| 85 | 16 |
| 86 | 15.2 |
| 87 | 14.4 |
| 88 | 13.7 |
| 89 | 12.9 |
| 90 | 12.2 |
| 91 | 11.5 |
| 92 | 10.8 |
| 93 | 10.1 |
| 94 | 9.5 |
| 95 | 8.9 |
| Age | Distribution Period |
| 96 | 8.4 |
| 97 | 7.8 |
| 98 | 7.3 |
| 99 | 6.8 |
| 100 | 6.4 |
| 101 | 6 |
| 102 | 5.6 |
| 103 | 5.2 |
| 104 | 4.9 |
| 105 | 4.6 |
| 106 | 4.3 |
| 107 | 4.1 |
| Age | Distribution Period |
| 108 | 3.9 |
| 109 | 3.7 |
| 110 | 3.5 |
| 111 | 3.4 |
| 112 | 3.3 |
| 113 | 3.1 |
| 114 | 3 |
| 115 | 2.9 |
| 116 | 2.8 |
| 117 | 2.7 |
| 118 | 2.5 |
| 119 | 2.3 |
| 120+ | 2 |
The material on this page is for informational purposes only. GoldStar Trust Company performs the duties of a self-directed custodian and as such does not provide investment, legal, or tax advice.
GoldStar Trust Company does not automatically make distributions without a request. Failure to remove the RMD can result in an excess accumulation penalty from the IRS equal to 25% of the amount that should have been withdrawn. To ensure that your RMD is completed in time, please submit a distribution request to GoldStar no later than October 31, 2024.
GoldStar does not keep record of the election chosen by beneficiaries as it is the responsibility of the beneficiary. The RMD rules for beneficiaries can be complicated and GoldStar recommends that you consult with a qualified tax advisor or CPA to determine if an RMD is required from your Inherited IRA this year and to help you set up an RMD schedule so your distributions can be withdrawn appropriately to avoid tax penalties.
Still have questions? Contact our Investor Services Department at 800.486.6888.