RMD Year End Value…
We have a client that transferred his IRA from one company into another and the transfer came into the receiving account on 1/7/15. We are in the process of obtaining what the year end value is on the closed account,we think it may be zero. Will we then just use the account value as of the date the transfer took place at the delivering firm?
Permalink Submitted by Alan - IRA critic on Thu, 2015-01-08 20:40
Yes. Closing account value at transferor firm should be the same as the opening value at the transferee firm. There may not be a 5498 issued by transferor firm if no year end balance, but for 2015 RMD purposes the closing value should be used.