direct IRA rollover
I am 70 years old and retired. I calculated my 2019 RMD and am taking monthly distributions from one of my two IRA accounts throughout 2019 that will total just a bit more than that. My question is whether I can do a direct rollover of my “other” IRA account before I have completed the required RMD total during 2019.
Permalink Submitted by Alan - IRA critic on Thu, 2019-04-25 18:00
You can do any number of non reportable transfers between IRA accounts without affecting the RMD, since these are not treated as distributions. However, if you do a direct rollover to a qualified plan (eg 401k), this is treated as a distribution and rollover, so your RMD for the IRA account you rolled into the qualified plan must be completed before doing a direct rollover unless you have satisfied your total RMD from distributions from another account. This can be confusing, so if any questions please advise exactly what you have in mind..