RMD for 2014 retiree
individual is 73 yrs old and retired in 2014. she transfered her 401k to an IRA. Is she required to take a RMD for 2014?
individual is 73 yrs old and retired in 2014. she transfered her 401k to an IRA. Is she required to take a RMD for 2014?
Permalink Submitted by Alan - IRA critic on Wed, 2014-12-03 20:15
If the 401k rollover took place prior to retirement, the RMD was probably included in the rollover, and needs to be withdrawn from the IRA as a corrective distribution. However, if the rollover was done after retiring, the RMD for the 401k should NOT have been included in the rollover and should have been separately distributed by the 401k administrator. In that case, the amount rolled to the IRA would not result in any additional distribution or RMD from the IRA. The 2014 IRA RMD would be based only on the actual IRA balance on 12/31/2013.