CRD Return to Different Account

Submitted by IRAQuestion5 on Thu, 2021-02-11 21:09

Hello-

Client withdrew a CRD from a 403b (old employer) and from a 401k (current employer). The 403b has lower fees than the 401k. Can she deposit both the CRD from the 403b and 401k into the 403b?

Thanks!



Submitted by David Mertz on Thu, 2021-02-11 21:46

The repayment of the CRD can be made to any eligible retirement plan, so yes, the CRD from the 403(b) can be repaid to the 401(k) if the 401(k) accepts rollovers  (or you can roll it over to an IRA).

Submitted by IRAQuestion5 on Fri, 2021-02-12 20:13

Thank you! Is it possible to roll into the 403b (no longer employed there) or would that be plan specific?

Submitted by Alan - IRA critic on Fri, 2021-02-12 20:33

Plan specific, and very few such plans will accept rollovers or CRD repayments from former employees. But no harm in asking them.

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