Accumulator
Common Questions
Topics
Minimum Distribution
- What is a Required Minimum Distribution?
Federal Income Tax Rules generally require that you start taking lifetime "Required Minimum Distributions" of your retirement benefits (including amounts held in qualified plans, traditional IRAs, SEPs/SARSEPs, SIMPLE IRAs, TSAs and EDCs) the year you attain age 70 1/2 and annually thereafter.You may elect our Automatic Withdrawal Option, under which we will calculate and pay your lifetime required minimum distribution from your annuity contract automatically each year. Please refer to your policy prospectus and the Terms and Conditions on the form for questions that may apply to your specific product.
If you do not withdraw your minimum distribution each year, you may be subject to a federal penalty tax of 50% on the difference between what you received from your retirement program and what you are required to receive under the minimum distribution rules.
Contact your AXA Advisors financial professional to discuss your plans for beginning your minimum distributions,or contact a Customer Service Representative at 1-800-789-7771 for more information.
