RMD at 70 1/2 for IRA and 403b
A client turns 70 1/2 this year. If she satisfies her RMD for 2012 as it relates to her IRA, can she delay her first RMD from her 403b until April 1st, 2013 (with the understanding that she will take two RMDs next year)? I wasn’t sure if she can delay the 403b RMD since she will satisfy her IRA RMD this year.
Thank you!
Permalink Submitted by Alan Spross on Fri, 2012-03-30 19:20
Yes, this can be done. IRA RMDs are totally separate from RMDs from other plan types, so the first 403b RMD can be deferred as long as 4/1/2013.
Also, remember that RMDs are not required for any 403b pre 1987 accruals until age 75. If client has such accruals (12/31/1986 balance), the value of them can be subtracted from the total 403b balance for purposes of determining the current 403b RMD.