RMD aggregation rules around 403b’s
Simple question…I hope at least. In regards to aggregating RMDs, I was able to find that it is allowed for IRAs, Simple IRA, etc but not for 401Ks. My question is can you aggregate RMD’s from 403B and/or 457 accts? If yes for either, where in the code is that spelled out or identified.
Thank you in advance.
PG
Permalink Submitted by Denise Appleby on Wed, 2008-07-09 15:41
[quote=”paulngould2007″]…can you aggregate RMD’s from 403B and/or 457 accts? If yes for either, where in the code is that spelled out or identified.
PG[/quote]
No. Cite §1.403(b)-6
If the participant has multiple 403(b) accounts, the RMD for each 403(b) account must be calculated separately, but can be aggregated and taken from one or more of his 403(b) accounts. But you cannot take an RMD for a 403(b) from a 457(b) or any other type of retirement plan…or vice versa
Link to Tres Reg and other guidance for 403(b) available here http://retirementdictionary.com/403-b-plan.htm
Permalink Submitted by Paul Gould on Wed, 2008-07-09 19:18
That is extremley helpful…thank you