The Best Way to Track RMD 10-Year Rules for Clients

​The SECURE Act (2019) dramatically altered the retirement rules, including the introduction of a 10-Year Rule. Under this rule, account custodians must distribute the total amount of the retirement account to the inheritor within ten years. 

​Knowing when the 10-year rule expires for each client account is best managed using client relationship management (CRM) software, not a spreadsheet. ProTracker Advantage® provides an extensive and easy-to-use RMD calculator and tracking tool to guide the advisor in distributing the accounts within the 10-Year period.
Once the initial parameters for a client scenario are saved, an RMD Wizard can rapidly compute each client’s RMD for the new year. There is no need to look up life expectancy factors in a table and enter them into a spreadsheet.
Step 4 in the global RMD Wizard displays the accounts where the 10-year calculation method applies. 
Here’s a look at the RMD Wizard’s Step 4 where the Method column shows the 10-year rule accounts:

Find more information about calculating RMDs and documenting them here.