Bene RMD’s – Trad & Roth
If a client has both a Traditional Bene IRA and a Roth Bene IRA, can those accounts be aggregated for RMD purposes? Or do separate RMD’s need to be taken?
If a client has both a Traditional Bene IRA and a Roth Bene IRA, can those accounts be aggregated for RMD purposes? Or do separate RMD’s need to be taken?
Permalink Submitted by Alan Spross on Mon, 2011-11-21 17:37
They cannot be aggregated. Following is a copy of IRS Reg 1.408A-6, Q 15:
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Q–15. Does section 401(a)(9) apply separately to Roth IRAs and individual retirement plans that are not Roth IRAs?
A–15. Yes. An individual required to receive minimum distributions from his or her own traditional or SIMPLE IRA cannot choose to take the amount of the minimum distributions from any Roth IRA. Similarly, an individual required to receive minimum distributions from a Roth IRA cannot choose to take the amount of the minimum distributions from a traditional or SIMPLE IRA. In addition, an individual required to receive minimum distributions as a beneficiary under a Roth IRA can only satisfy the minimum distributions for one Roth IRA by distributing from another Roth IRA if the Roth IRAs were inherited from the same decedent.
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