Fidelity announced Thursday that it has launched a new Retirement Distribution Center on its website to help clients manage withdrawals from their IRAs.
Clients can set up and track withdrawals, and manage minimum required distributions required by the IRS. Resources that describe different withdrawal strategies are also available on the site.
"The Retirement Distributions Center is a straightforward, easy-to-understand distribution tracking service that provides real-time information so investors can be confident they have both fulfilled their IRS withdrawal requirements and are directing distributions to the accounts they have designated to support their overall retirement income and investing plans," Rick Mitchell, executive vice president at Fidelity, said in a statement.
The site helps clients manage MRDs by calculating how much they need to withdraw per year based on their total balance; tracking how much they have already taken; sending email alerts with information about deadlines for withdrawals.
"Investors with IRAs who are nearing or in retirement have had to navigate a number of IRS rule changes and volatile markets over the past several years," Mitchell said.
