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Annuity FAQs - Required Minimum Distributions (RMD)
Customer Service > Annuity FAQs > Required Minimum Distributions (RMD)

When am I required to take a distribution from my annuity contract?

If your annuity is a qualified IRA, you are required under IRS regulations to take distributions each year beginning in the year you turn age 70 1/2.

If your annuity contract is nonqualified, under the terms of the annuity contract you must surrender or begin annuity payments by age 99. See also FAQs on Surrenders or Annuity Payments.

How is my Required Minimum Distribution calculated?

Distribution amounts are calculated based on the value of your annuity contract on December 31 of the prior year. In most cases, the value of your annuity is simply divided by the IRS table factor for the age you will attain in the year of the distribution.

Can I receive my RMD automatically?

The IRA annuity contract owner can elect to receive RMD distributions on a monthly, quarterly, semi-annual or annual basis. Complete and sign an Required Minimum Distribution Form and mail it to our Customer Service Center. Your RMD distribution will begin on the next scheduled modal distribution date after your request is received.

 - Monthly RMD distributions are processed on the first business day of each month.
 - Quarterly RMD distributions are processed each March 15, June 15, September 15 and December 15.
 - Semi-annual RMD distributions are processed each June 15 and December 15.
 - Annual RMD distributions are processed each December 15.

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Life insurance and annuities issued by Vantis Life Insurance Company, Windsor, CT (all states except NY) and by Vantis Life Insurance Company of New York, Brewster, NY (NY only). Products not available in all states and state variations may apply.