401k Roth
I have a 401k Roth Profit Sharing Plan. I will be 70 in December. When is the best time to move to a Roth IRA this year?
I have a 401k Roth Profit Sharing Plan. I will be 70 in December. When is the best time to move to a Roth IRA this year?
Permalink Submitted by Alan - IRA critic on Thu, 2016-05-19 20:36
You can avoid RMDs on the Roth 401k if you complete a direct rollover before the year you will reach 70.5. If you will reach 70.5 this year, there will be a 2016 RMD due unless you are still working and are not a 5% or greater owner of the company.
Permalink Submitted by Rose Robins on Fri, 2016-07-08 19:31
If I understand correctly I am required to do a RMD on my 401k Roth this year because I will be 70 Dec 20th??? If I transfer the 401k Roth before I 70th birthday Dec 20 do I still have to take a RMD?
Permalink Submitted by Alan - IRA critic on Fri, 2016-07-08 20:26
What age will you reach in December, 70 even or 70.5? If 70 even, then this is not an RMD year and you can roll the Roth 401k to a Roth IRA with no RMD.