Once you reach a certain age, the IRS requires you to take annual distributions out of specific types of retirement accounts.
These mandatory withdrawals are called Required Minimum Distributions, or RMDs.
Fortunately, the RMD Center on Schwab.com is a convenient place to manage your RMDs for your eligible Schwab accounts, easily and securely.
Clear due dates and the amounts you still need to withdraw, helping to avoid potentially costly IRS penalties
Ways to schedule distributions to fit your needs and a
A digital solution that eliminates paperwork.
Start with a clear view of your RMD status; including any scheduled distributions, amounts already taken, and the amount you still need to withdraw across your retirement accounts that are available through the RMD Center.
You can then setup your distribution requests and adjust your tax withholdings.
Finally, simply review and confirm your request. From there, you can save it and print a copy for your records or share them with your tax professional.
No paperwork, no long phone calls, just a simple three step process.
To start managing your RMDs at any time of the year, visit schwab.com/takemyrmd or simply log into Schwab.com, roll over the Accounts tab, and click “Take my RMD.”
We hope you take advantage of this easy to use RMD Center to stay on top of your RMDs. It’s just another way Schwab helps you own your tomorrow.