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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
May 17, 2002 at 08:00 PM
NU Online News Service, May 17, 3:12 p.m. – Still River Retirement Planning Software Inc., Harvard, Mass., has introduced RMD Compliance Plus, a software package for calculating and reporting minimum distribution amounts for holders of individual retirement accounts.
Insurance companies and other companies that manage IRA assets can use the software to meet new Internal Revenue Service customer notification requirements, Still River says.
IRA trustees and custodians are supposed to notify the IRA holders by Jan. 31, 2003, about minimum distribution requirements. Financial services companies have a choice: they can tell customers what the minimum distributions will be, or they can simply tell the customers about the existence of the requirement and offer to provide actual figures for customers who ask for them.
Giving the distribution amounts in the initial notices will probably be easier and cheaper for most companies than calculating the information one customer at a time later, Still River says.
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