RMD on 401(k) distribution to IRA at age 70 1/2
I am rolling over my 401(k) to my IRA. I turn 70 in April and 70 1/2 in October. I want to delay my first RMD until
April 1, 2020. Can this be done?
I am rolling over my 401(k) to my IRA. I turn 70 in April and 70 1/2 in October. I want to delay my first RMD until
April 1, 2020. Can this be done?
Permalink Submitted by Alan - IRA critic on Wed, 2019-02-27 21:11
No, not with the IRA rollover, which is a distribution from the plan. Any distribution in an RMD year is deemed to include the RMD. So if you prefer two RMDs in 2020, and none in 2019, you must delay your IRA direct rollover until at least January. And if you want to delay your 2019 RMD until 4/1, then you must delay the 401k rollover until 4/1 also. A direct rollover in 2020 will result in both your 2019 and 2020 RMDs being distributed at the time of that direct rollover if the rollover is done before 4/1. If you wait until after 4/1 the plan will distribute the 2019 RMD by 4/1, then the 2020 RMD when you do the rollover.