RMD Required
Have a 71 year old client who is still working. If she does an in-service distribution of her 401k plan and rolls it to an IRA this year, is she required to take an RMD for 2013?
Have a 71 year old client who is still working. If she does an in-service distribution of her 401k plan and rolls it to an IRA this year, is she required to take an RMD for 2013?
Permalink Submitted by Alan - IRA critic on Wed, 2013-12-04 22:30
Not from an IRA that receives and holds only the balance of the rollover and not from the 401k plan if client does not retire in 2013. This assumes client is not a 5% owner and the plan does not require all employees to start RMDs at 70.5.