Fair Market Value & IRA Distributions

Where to find your IRA fair market value

The fair market value (FMV) on your year-end statement is the amount that Scottrade will report to the IRS on Form 5498. The FMV of your Scottrade IRA as of Dec. 31 is reported on your December statement. It is important that you keep your statement because you may need the FMV of your account(s) when completing your tax return or calculating your minimum required distribution (RMD).

For Scottrade's valuation reporting policy, please refer to the back of your statement.

IRA Distributions & Required Minimum Distributions (RMD) Tax Forms

If you took a distribution from your IRA or Coverdell ESA, you will be receiving Form 1099R or 1099Q, respectively, in the mail in early February.

If you are 70 1/2 years of age or older and you held a balance in your Traditional IRA or SEP IRA that had a FMV as of Dec. 31 the previous year, you will receive Form 5498 listing your RMD information.

If you are required to take a distribution and did not hold a balance at Scottrade on Dec. 31, Scottrade will not notify you of your RMD.

RMD Calculation

If you need assistance calculating your RMD, please contact your Scottrade Investment Consultant.

Scottrade does not provide tax advice. The material provided is for informational purposes only. Please consult your tax, or legal, advisor for questions concerning your personal tax or financial situation.