401k withdrawal
I have been taking half my TSP because 75 but sheltered other half in the 401k of my current employer. When I retire from the current company in November 2023, can I postpone the first RMD from this 401k to April 1 2024? then take a second RMD from that account by Dec 31 same year ? Or must I take the rmd from the 401k the year I retire (2023?)
Permalink Submitted by Gerri Fehst on Fri, 2023-10-27 20:25
If April 1 is the answer to the above question, Would the answer to the above question be different because I started taking my RMD from my TSP?
Permalink Submitted by Alan - IRA critic on Fri, 2023-10-27 22:12
No different due to the TSP RMDs.
Permalink Submitted by Gerri Fehst on Sat, 2023-10-28 01:05
Sorry for all five of the same questions! I’ll be better next time online. To confirm, I can take the 401 k RMD withdrawal from my current employer by April 1, 2024, even though I’ve been taking RMDs for a few years now from my TSP since I am 75. That doesn’t make any difference. The April 1 deadline must be met because I am retiring from my current employer in November 2023, where my 401 k is now, and I have until April 1, 2024 to satisfy this RMD due to retirement. However, I must take two RMDs from this 401 k, one to satisfy the 2023 requirement by April 1, 2024 and the other must be taken by December 31, 2024. Please correct anything incorrect in this statement. And thank you for your help.