Question
I am turning 70 1/2 in December 2017
I have 2 annuities and am still working part time and have a 401(k)
Can I take the RMD from only my 401(k) instead for my annuities? (they are tied up)
Also, What if I retire before 12 -31 does my 401(k) count in figuring my RMD for 2017
Thank you Michigan RMD
Can I rollover by 401k to an IRA after separation when I turn 701/2 this year before 12-31-2017 and take the RMD too.
If you do a direct rollover to an IRA, the 401k RMD must be distributed to you at the time and cannot be included in the rollover because an RMD is not eligible for rollover. If you do not want to have your wages plus the RMD in your 2017 income, you would have to wait until 2018 to do the IRA rollover. You would then have two RMDs distributed in 2018.
Permalink Submitted by Alan - IRA critic on Mon, 2017-06-12 19:48
If you retire this year, then 2017 will be an RMD distribution year, but you can defer that distribution to as late as 4/1/2018. You do not have to take an RMD for a non qualified annuity, but you will probably have to take some form of distribution by your mid 80s. If these are qualified annuities such as a 403b and you are no longer working, then RMDs will be required as for your 401k. If the annuities are a 403b, the RMD for the annuities and the 401k must be separately satisfied.