Dear Alan et al,

Lewis was born in Apr 1946 so he just celebrated his 70th birthday and will turn 70 1/2 in Oct 2016. Lewis retired last week. We are trying to decide whether he should take 1 RMD this year or 2 RMDs next year.

My understanding is that with his 401K, since he will turn 70 1/2 this year, we cannot roll the 401K over to his IRA without taking a 2016 401K RMD based on his 12-31-2015 balance.

Therefore, if we want to wait to take 2 RMDs next year in 2017, we will need to wait to roll his 401K over to his IRA in Jan 2017 after the Charles Schwab 401K plan issues a check to him for the 2016 & 2017 RMDs.

Does this sound correct?

Thanks in advance,

Chris