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Entering Data
- Calculation year The year the analysis begins.
- Dec. 31 balance The plan balance as of the year end prior to the calculation year.
- Expected plan growth The growth rate you’d like to use to estimate how the plan will grow in future years. This is for illustration purposes only. The calculation has to be made each year based on the actual previous year end value.
- Treat as non-IRA qualified plan for a less than 5% owner For non IRA qualified plans where the participant is less than a 5% owner, required distributions can be delayed until the later of the year they reach RMD age or separate from service.
- Retirement year Enter the year the participant separated from service with their employer. This question will only be asked for non IRA plans when the participant is less than a 5% owner.
- Owner’s date of birth The owner’s date of birth affects when required minimum distributions begin unless the owner is a non IRA plan participant working past RMD age.
- Primary beneficiary date of birth The year of birth for the primary beneficiary.
- Was the owner’s spouse the sole primary beneficiary for the entire year? The owner’s spouse being the sole primary beneficiary for the entire year will affect the calculation if the beneficiary is more than 10 years younger than the owner.
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