RMD question
Hello,
We have a client who has two retirement accounts. She has an IRA with 100k in it and she has a 403(b) with 50k in it. She is 70 years old this year. Our question is can she take her entire RMD amount from just the IRA or does she need to calculate the RMD from each account and withdraw money from each account. Please let us know.
Thank you!
Permalink Submitted by Alan - IRA critic on Thu, 2013-09-19 22:22
She must take the RMD from each account separately. Her first RMD from either account can be taken as late as 4/1 of the year following the year she reaches 70.5, but if the first RMD is delayed to the second year, then there will be two RMDs required in the second year. Also, if she had a 403b balance on 12/31/1986, RMDs on that portion do not have to start until age 75. She might want to check into that.