RMD from Simple IRAs
Client is still contributing to SIMPLE IRA via work. Does amount in SIMPLE have to be included in RMD calculations? Nit sure if the SIMPLE was treated like other qualified plans.
Client is still contributing to SIMPLE IRA via work. Does amount in SIMPLE have to be included in RMD calculations? Nit sure if the SIMPLE was treated like other qualified plans.
Permalink Submitted by Alan Spross on Mon, 2010-03-08 19:38
For RMD purposes, the SIMPLE IRA follows IRA rules, ie an RMD must be taken no later than the RBD. For those still working after 70, contributions can still be made to the SIMPLE IRA, but RMDs must be taken out as well.