Consolidating multiple iras

But I have assets from a pension plan and 457(b) that approaches 0,000.

The reality is that I have kept my previous employer's health insurance because I am afraid to switch to another plan.

(For more on how to calculate your RMD, see .) Your IRA custodian usually provides a report of your FMV by Jan 31 of the following year.

However, if in the current year you recharacterized a conversion for the previous year or rolled over a distribution from the previous year, your custodian may not be aware of these transactions and may not have included those amounts in your FMV.

This means avoiding some pitfalls when calculating the RMD for a retirement account.

Use the Correct Fair Market Value The RMD for a year is determined by dividing the previous year-end's fair market value (FMV) by the applicable distribution period.

Non-spousal inherited IRAs generally can't be combined with other types of IRAs.

IRAs invested in bank certificates of deposit are insured by the Federal Deposit Insurance Corp.

up to 0,000, though revocable trusts can effectively boost that limit if you have multiple beneficiaries.

If Michael fails to withdraw the additional ,403 from his Traditional IRA by December 31, 2013, he will owe the IRS an excise tax (excess accumulation penalty) of ,201. She contacted her IRA custodian in Jan 2013 for assistance with calculating her RMD amount.

The custodian used Jane\'s previous year-end FMV of ,000 and her distribution period of 24.7 to calculate the RMD amount of ,024.

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