Determining the Fair Market Value on Annuity Contracts

[Guest Frankie]

I would appreciate a discussion on how everyone out there is handling the following.

1. When determining the year end plan balance on an IRA annuity that has not annuitized for purposes of calculating a required minimun distribution, what "value" do you use......e.g. the surrender value, do you add in the amount of any supplemental death benefit, do you add in any addtional increase in value for a positive market rate adjustment ( if the contract has such a feature) ?

2. For an annuity contract that has annuitized how is everyone calculating the year end value for 5498 reporting ?

I appreciate and input or discussion of these two items.