Required Minimum Withdrawal

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Prudence
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Required Minimum Withdrawal

Post by Prudence » Wed Feb 01, 2017 11:06 am

If an individual has several traditional IRA accounts with different institutions, the IRS will allow her to make the total RMD (for all the IRAs) from just one of the accounts or more than one. This excludes her 401-K, right? IOW, the RMD from the 401-K must be taken completely from the 401-K, right?

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cheese_breath
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Re: Required Minimum Withdrawal

Post by cheese_breath » Wed Feb 01, 2017 11:10 am

Correct. You can't mix IRA and 401K RMDs.
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The Wizard
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Re: Required Minimum Withdrawal

Post by The Wizard » Wed Feb 01, 2017 11:10 am

Right...
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clydewolf
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Re: Required Minimum Withdrawal

Post by clydewolf » Thu Feb 02, 2017 3:19 pm

RMDs from several IRAs can be combined and taken from any of the IRAs.

RMDs from 401ks must be taken from each 401k. RMDs from 401ks can not be combined.

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David Jay
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Re: Required Minimum Withdrawal

Post by David Jay » Thu Feb 02, 2017 3:21 pm

Of course, a 401K can be rolled over into a tIRA for a single RMD payment source.
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Norris
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Re: Required Minimum Withdrawal

Post by Norris » Thu Feb 02, 2017 7:54 pm

And, conversely, some 401ks allow rollovers from TIRAs..

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clydewolf
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Re: Required Minimum Withdrawal

Post by clydewolf » Fri Feb 03, 2017 1:42 pm

Norris wrote:And, conversely, some 401ks allow rollovers from TIRAs..

Norris
But to do this you must be an active employee.

Spirit Rider
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Re: Required Minimum Withdrawal

Post by Spirit Rider » Fri Feb 03, 2017 4:49 pm

clydewolf wrote:
Norris wrote:And, conversely, some 401ks allow rollovers from TIRAs
But to do this you must be an active employee.
Not always. Some employer plans do allow separated employes to roll-in IRAs.

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SeeMoe
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Re: Required Minimum Withdrawal

Post by SeeMoe » Fri Feb 03, 2017 8:42 pm

cheese_breath wrote:Correct. You can't mix IRA and 401K RMDs.
Interesting news. I just assumed one could combine the two like we did with our 457b DCP's when we retired and transferred them over to our T-IRA plans...

SeeMoe.. :annoyed
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