Dear Client,
If you have a qualified account with Fidelity, such as a Traditional IRA or Inherited IRA, you may receive a letter from Fidelity regarding your 2023 Required Minimum Distribution (RMD). This is an automated process by Fidelity for anyone who has a Fidelity account. It will show any of your 2023 RMDs separately. It will not include any qualified or retirement accounts you have outside of Fidelity’s management. It also may not show any RMDs you have already taken in 2023.
As your financial planning team, Cedar Cove will work with you to ensure ALL RMDs for accounts under our management are satisfied. Our team helps track all distributions you have taken under our management and will be able to give you guidance if further action is needed before the end of the year. We want to make sure you feel confident in your RMD plan, which is why our team will reach out to you if further RMDs will need to be taken in 2023.
You do not need to take any action at this time, nor do you need to do anything when you receive the letter from Fidelity. We will work with you as always to ensure RMDs are satisfied before the end of the year.
Thank you for placing your trust in our team. We appreciate you!
Cedar Cove Wealth Partners
