73 year old 401k rollover
I have a client that that is 73 and rolled his 401k into one of his IRAs. He’s satisfied his RMD for this year prior to rolling over his 401k. Does he have to take an additional RMD based on the rolled over value?
I have a client that that is 73 and rolled his 401k into one of his IRAs. He’s satisfied his RMD for this year prior to rolling over his 401k. Does he have to take an additional RMD based on the rolled over value?
Permalink Submitted by mk foss on Mon, 2010-12-06 19:21
The RMD for the IRA is based on the 12/31/09 value. As long as he satisfied any necessary RMD for the 401k plan before the rollover – he does not have to count the 401k dollars again.