70.5 Age Client Retiring 12.31.07
Client has $2m + in his QRP, and is already past 70.5, retiring on December 31, 2007. He wants to delay RMDs as ling as possible. After taking first RMD by 4.1.08 he wants to roll it to an IRA. It seems he may have to take another RMD in 2008, prior to rollover, since RMDs cannot be rolled over. Wouldn’t it be better to retire on Wednesday, 01.02.08? Then he could take the first RMD anytime prior to 12.08, then rollover the QRP, and not take another one (from the IRA) until 12.09. He does NOT want two RMDs in the same year.
Permalink Submitted by Denise Appleby on Tue, 2007-09-11 02:38
It would work if the company is willing to allow him to stay on until the next year.
They may have December 31 as a retirement date for accounting reasons and such.