IRAs

Help with Required Mandatory Distributions

You have so many tasks on your daily “to do” list that handling your investments may fall to the bottom. That’s why Wright-Patt Credit Union offers a program to assist you with annual required mandatory distributions (RMDs) from your Traditional IRAs. You can check one important item off your list when you sign up to have your RMDs automatically processed each year. Just fill out one form and we’ll take care of the rest!

Once you reach the age of 70 ½, the IRS requires that these annual distributions begin. WPCU reminds you in three ways: your year-end statement, the IRS form 5498 (mailed in May), and a mailing when you reach age 70 ½. When you sign up for automatic processing, we will process your distributions annually until we hear otherwise from you. This is just another way your credit union is here to make life easier for you. Call our Special Services Department at (937) 912-7650 or (800) 762-0047, x7650 for more information.