over 70.5 and still working
Still working past 70.5, so not taking distributions from my 401k. In Nov, my division of the company was sold. My 401k balance has not transferred yet to the new company, and won’t by year end. Will I have to take an RMD for 2014, since I no longer work for the company where my 401k is being held?
Permalink Submitted by Alan - IRA critic on Wed, 2014-12-24 17:46
What will happen to the 401k? If the balance is transferred into the 401k for your new employer, then you should not have an RMD for 2014. Otherwise, the administrator of the former plan will have to advise you of your RMD situation based on how the acquisition is structured. You will not be penalized if you do as they say, even if you are advised after what would have been your required beginning date of 4/1/2015. As for the uncertainty in the meantime, I guess that is unavoidable.