ICI Supports Efforts to Simplify Distribution Procedures for IRA Beneficiaries

Washington, DC, August 29, 2002 - The Institute filed a comment letter strongly supporting efforts to simplify the rules under which IRA owners and beneficiaries receive required minimum distributions (RMDs). The Institute has previously submitted testimony and filed comments in support of initiatives to simplify RMD procedures.

In its most recent comments, the Institute urges the IRS to make permanent the ability of IRA trustees to offer to calculate RMD amounts and asks the agency to clarify how the RMD rules apply to beneficiaries with separate accounts.