RMD’S
Must a person receive their RMD before the account transfers from a 401a, 403b or 457 governmental plan into an IRA? If they have already received their RMD from like accounts; (additional 403b’s) and those withdrawal’s were for the current year, can the former employee notify the custodian of the existing account to be transfered that the RMD has been satisfied from other like accounts and not to distribute the RMD pertaining to that account?
Permalink Submitted by Alan - IRA critic on Mon, 2013-04-29 23:59
A 403b can satisfy the RMD for another 403b, but other employer accounts much each satisfy their own RMD. In any RMD distribution year, an employer plan RMD must not be included in the IRA rollover. If it is, the RMD is still satisfied, but the IRA will have an excess contribution that needs to be corrected.