Still working and planning to retire in the middle of next year, 2024. If I retire in 2024, I will have the first RMD based on the balance of the retirement account on 12/31/2023. Is it possible to rollover the 403b to an IRA before 12/31/2023, take a full RMD as QCD from the IRA in early 2024, and rollover the IRA back to 403b? The 403b plan allows an rollover from a rollover IRA.
I know there are limitations to QCD’s from an IRA if contributions are still being made after the RMD date. But what if someone who was working made contributions to a 403b or 401k after their RMD date. and then converted to an IRA. Would those QCD limitations still be in place?
No, the limitations in the form of QCD offsets which begin at age 70.5 to coincide with the QCD age do not apply to contributions made to a non IRA account.
Permalink Submitted by Alan - IRA critic on Sun, 2023-03-19 04:01
Yes, you could do that.