I retired 3/2012,is RMD in 401K w/ Co. required for 2012?

Submitted by Nellie Inducil on Mon, 2012-04-30 00:07

Hi,

I retired this March 15, 2012. I am 72. I am withdrawing RMD from my IRA and other 401K; but with the company I worked for and now had retired, I did not take RMD from my current 401K with this company as I still work with them. Am I still allowed not to take RMD for 2012 as I worked for the first quarter of 2012?

Thanks.



Submitted by Alan Spross on Mon, 2012-04-30 00:13

Yes, you are allowed to defer the 2012 RMD from the company you just retired from until as late as 4/1/2013. In other words, 2012 will be an RMD distribution year, but you can delay it. If you do you will have to take two RMDs from the plan in 2013, the one for 2012 and the one for 2013.

Note that if you roll that 401k over to an IRA this year, the RMD for 2012 must be distributed and you will not be able to delay it until 2013.



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