So I've been monitoring parents finances over the last few years, both are late 80s. Both have IRAs and have been taking annual RMDs at the minimum level (or so I thought).

Last year I could have sworn the calc was basically to divide the balance in the IRA by **6.x** to figure the minimum distribution.

This year it seems that the calc is more like balance/**12.x**

**Is this correct?** If so, can someone tell me why the big change. If I'm wrong, can you please point me to the correct calculation information. Thanks in advance.

If the divisor is now 12.x, that's great news. However, we now have a much bigger problem. The bank has been calculating the minimum distribution amount for us. Each year, around Dec 15th, a transfer is automatically made from the IRAs to regular savings. I typically check that the RMD was made around this time each year.

I just checked and noticed the RMD transfer was much higher than last year! Something is not right, the amount should be much lower. But today is Saturday and I won't be able to contact the bank until Monday about what happened. Now I'm worried that once the transfer has been made, if there was an error by the bank, it cannot be corrected. Meaning, **I'm concerned we can't just stuff the excess amount back in the IRA account.**

Any insight you guys can offer would be appreciated.