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taxmap/pubs/p590b-000.htm#en_us_publink1000230269
Publication 590-B

Distributions from Individual 
Retirement 
Arrangements 
(IRAs)

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What’s New(p1)

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Disaster tax relief.(p1)
New rules provide for tax-favored withdrawals and repayments from certain retirement plans (including IRAs) for taxpayers who suffered economic losses as a result of Hurricane Harvey, Irma, or Maria. See Disaster-Related Relief, for information on these special rules. Also see Pub. 976, Disaster Relief, and the Instructions for Form 8915B, Qualified 2017 Disaster Retirement Plan Distributions and Repayments, for more information on these new rules.
For information on disaster relief for taxpayers who sustained economic losses resulting from a federally declared disaster in 2016, see Pub. 976 and the Instructions for Form 8915A, Qualified 2016 Disaster Retirement Plan Distributions and Repayments.
EIC
At the time this publication went to print, Congress was considering additional legislation that could expand the scope of qualified 2017 disasters. See IRS.gov/DisasterTaxRelief for more information and updates.
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IRAs and unrelated business income.(p1)
An IRA is subject to tax on unrelated business income if it carries on an unrelated trade or business. An unrelated trade or business means any trade or business regularly carried on by the IRA or by a partnership of which it is a member, and not substantially related to the IRA’s exempt purpose or function. For more information, see Unrelated business income under What Acts Result in Penalties or Additional Taxes?.

Reminders(p2)

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Future developments.(p2)
For the latest information about developments related to Pub. 590-B, such as legislation enacted after it was published, go to IRS.gov/Pub590b.
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Publication 590 split.(p2)
Before tax year 2014, Pub. 590 was a single, combined publication that covered both contributions to and distributions from IRAs. The 2013 version of Pub. 590 was the final version before the publication was split into Pub. 590-A and Pub. 590-B as follows.
  • Pub. 590-A covers contributions to traditional IRAs as well as Roth IRAs. This publication includes the rules for rollover and conversion contributions.
  • Pub. 590-B covers distributions from traditional IRAs as well as Roth IRAs. This publication includes the rules for required minimum distributions and IRA beneficiaries.
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Application of one-rollover-per-year limitation.(p2)
You can make only one rollover from an IRA to another (or the same) IRA in any 12-month period regardless of the number of IRAs you own. However, you can continue to make unlimited trustee-to-trustee transfers between IRAs because a transfer isn’t considered a rollover. Furthermore, you can also make unlimited rollovers from a traditional IRA to a Roth IRA (also known as "conversions"). For more information, see Pub. 590-A.
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Simplified employee pension (SEP).(p2)
SEP IRAs aren't covered in this publication. They are covered in Pub. 560, Retirement Plans for Small Business.
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Deemed IRAs.(p2)
A qualified employer plan (retirement plan) can maintain a separate account or annuity under the plan (a deemed IRA) to receive voluntary employee contributions. If the separate account or annuity otherwise meets the requirements of an IRA, it will be subject only to IRA rules. An employee's account can be treated as a traditional IRA or a Roth IRA.
For this purpose, a "qualified employer plan" includes:
  • A qualified pension, profit-sharing, or stock bonus plan (section 401(a) plan),
  • A qualified employee annuity plan (section 403(a) plan),
  • A tax-sheltered annuity plan (section 403(b) plan), and
  • A deferred compensation plan (section 457 plan) maintained by a state, a political subdivision of a state, or an agency or instrumentality of a state or political subdivision of a state.
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Statement of required minimum distribution (RMD).(p2)
If an RMD is required from your IRA, the trustee, custodian, or issuer that held the IRA at the end of the preceding year must either report the amount of the RMD to you, or offer to calculate it for you. The report or offer must include the date by which the amount must be distributed. The report is due January 31 of the year in which the minimum distribution is required. It can be provided with the year-end fair market value statement that you normally get each year. No report is required for section 403(b) contracts (generally tax-sheltered annuities) or for IRAs of owners who have died.
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IRA interest.(p2)
Although interest earned from your IRA is generally not taxed in the year earned, it isn't tax-exempt interest. Tax on your traditional IRA is generally deferred until you take a distribution. Don't report this interest on your return as tax-exempt interest. For more information on tax-exempt interest, see the instructions for your tax return.
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Net Investment Income Tax.(p2)
For purposes of the Net Investment Income Tax (NIIT), net investment income doesn't include distributions from a qualified retirement plan (for example, 401(a), 403(a), 403(b), or 457(b) plans, and IRAs). However, these distributions are taken into account when determining the modified adjusted gross income threshold. Distributions from a nonqualified retirement plan are included in net investment income. See Form 8960 and its instructions for more information.
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Photographs of missing children.(p2)
The IRS is a proud partner with the National Center for Missing & Exploited Children® (NCMEC). Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.

taxmap/pubs/p590b-000.htm#en_us_publink1000270051Introduction

This publication discusses distributions from individual retirement arrangements (IRAs). An IRA is a personal savings plan that gives you tax advantages for setting aside money for retirement. For information about contributions to an IRA, see Pub. 590-A.
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What are some tax advantages of an IRA?(p2)

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Two tax advantages of an IRA are that:
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What's in this publication?(p2)

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This publication discusses traditional and Roth IRAs. It explains the rules for:
It also explains the penalties and additional taxes that apply when the rules aren't followed. To assist you in complying with the tax rules for IRAs, this publication contains worksheets, sample forms, and tables, which can be found throughout the publication and in the appendices at the back of the publication.
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How to use this publication.(p3)

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The rules that you must follow depend on which type of IRA you have. Use Table I-1 to help you determine which parts of this publication to read. Also use Table I-1 if you were referred to this publication from instructions to a form.
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Comments and suggestions.(p3)

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We welcome your comments about this publication and your suggestions for future editions.
You can send us comments through IRS.gov/FormComments. Or you can write to:

Internal Revenue Service
Tax Forms and Publications
1111 Constitution Ave. NW, IR-6526
Washington, DC 20224


Although we can’t respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax forms, instructions, and publications.
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Ordering forms and publications.(p3)
Visit IRS.gov/FormsPubs to download forms and publications. Otherwise, you can go to IRS.gov/OrderForms to order current and prior-year forms and instructions. Your order should arrive within 10 business days.
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Tax questions.(p3)
If you have a tax question not answered by this publication, check IRS.gov and How To Get Tax Help at the end of this publication.

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Useful items

You may want to see:


Publications
 590-A Contributions to Individual Retirement Accounts (IRAs)
 560 Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans)
 571 Tax-Sheltered Annuity Plans (403(b) Plans)
 575 Pension and Annuity Income
 939 General Rule for Pensions and Annuities
 976 Disaster Relief
Forms (and Instructions)
 W-4P: Withholding Certificate for Pension or Annuity Payments
 1099-R: Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
 5304-SIMPLE: Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)–Not for Use With a Designated Financial Institution
 5305-S: SIMPLE Individual Retirement Trust Account
 5305-SA: SIMPLE Individual Retirement Custodial Account
 5305-SIMPLE: Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)–for Use With a Designated Financial Institution
 5329: Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts
 5498: IRA Contribution Information
 8606: Nondeductible IRAs
 8815: Exclusion of Interest From Series EE and I U.S. Savings Bonds Issued After 1989
 8839: Qualified Adoption Expenses
 8880: Credit for Qualified Retirement Savings Contributions
 8915A: Qualified 2016 Disaster Retirement Plan Distributions and Repayments
 8915B: Qualified 2017 Disaster Retirement Plan Distributions and Repayments
See chapter 4 for information about getting these publications and forms.
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Table I-1. Using This Publication

IF you need
information on ...
THEN see ...
Traditional IRAschapter 1.
Roth IRAschapter 2, and parts of
chapter 1.
Disaster-Related Reliefchapter 3.
SEP IRAs, SIMPLE IRAs, and 401(k) plans Pub. 560.
Coverdell education savings accounts (formerly called education IRAs) Pub. 970.
Table I-2. How Are a Traditional IRA and a Roth IRA Different?
This table shows the differences between traditional and Roth IRAs. Answers in the middle column apply to traditional IRAs. Answers in the right column apply to Roth IRAs.
QuestionAnswer
 Traditional IRA? Roth IRA?
Do I have to start taking distributions when I reach a certain age from aYes. You must begin receiving required minimum distributions by April 1 of the year following the year you reach age 701/2. See When Must You Withdraw Assets? (Required Minimum Distributions) in chapter 1. No. If you are the original owner of a Roth IRA, you don't have to take distributions regardless of your age. See Are Distributions Taxable? in chapter 2. However, if you are the beneficiary of a Roth IRA, you may have to take distributions. See Distributions After Owner's Death in chapter 2.
How are distributions taxed from aDistributions from a traditional IRA are taxed as ordinary income, but if you made nondeductible contributions, not all of the distribution is taxable. See Are Distributions Taxable? in chapter 1. Distributions from a Roth IRA aren't taxed as long as you meet certain criteria. See Are Distributions Taxable? in chapter 2.
Do I have to file a form just because I receive distributions from aNot unless you have ever made a nondeductible contribution to a traditional IRA. If you have, file Form 8606. See Nondeductible Contributions in Pub. 590-A. Yes. File Form 8606 if you received distributions from a Roth IRA (other than a rollover, qualified charitable distribution, one-time distribution to fund an HSA, recharacterization, certain qualified distributions, or a return of certain contributions).