Roth IRA Rollovers and Required Minimum Distributions: Today’s Slott Report Mailbag

Thursday, July 25, 2024

By Sarah Brenner, JD
Director of Retirement Education

Question:

Can a Roth IRA be rolled into a Roth 401k?

Answer:

While a Roth 401(k) can be rolled into a Roth IRA, the reverse is not true. You cannot roll a Roth IRA into a Roth 401(k). The only place where funds from a Roth IRA can be rolled over to is another Roth IRA.

Question:

I turn age 73 in October 2024. Do I have to wait until my birthday in October to take my required minimum distribution (RMD) for the year, or does any withdrawal I make in 2024 count towards the RMD?

Thank you,

Liliana

Answer:

Hi Liliana,

If you reach age 73 in 2024, any distribution that you take from your IRA this year will count as your RMD. You do not have to wait until after your 73rd birthday to satisfy your RMD for the year.

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