What Is Reported on an IRA Uniform Lifetime Table?


Quick Answer

Used to calculate a person's required minimum distribution of funds, an individual retirement account uniform lifetime table reports the life expectancy factor and the account owner's age, according to American Funds. Overall, the uniform lifetime table is used to help individuals manage their IRA funds and budget for future distribution.

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Full Answer

In order to calculate the required minimum distribution, or the minimum amount of money a person must withdraw from an IRA account each year, the account balance must be divided by the life expectancy factor, notes American Funds. The life expectancy factor is determined based on the account owner's current age, and, therefore, it decreases over time.

The factors on a uniform lifetime table change depending on the account owner's situation. For example, if the account owner has beneficiaries for his IRA account or has a joint account with a spouse or partner, the life expectancy factor varies. Additionally, if there is more than a 10-year age difference between the account owner and his spouse, the data on the table changes, notes the IRS. Also, the total balance of the IRA account decreases over time as the account owner releases funds, changing the required minimum distribution and affecting the data on the uniform lifetime table, claims American Funds.

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