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foray
Level 1

I have a 401K and an ind IRA can I combine the 2 for the RMD and withdraw money only from my 401k

 
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Accepted Solutions
SweetieJean
Level 15

I have a 401K and an ind IRA can I combine the 2 for the RMD and withdraw money only from my 401k

No. Each RMD must be take separately.

And, unless you turned age 70.5 in 2017, your 2017 RMD was supposed to be taken by 12/31/2017.

If you did just turn 70.5 in 2017, then you have also have to take your 2018 RMD's this year.

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8 Replies
SweetieJean
Level 15

I have a 401K and an ind IRA can I combine the 2 for the RMD and withdraw money only from my 401k

No. Each RMD must be take separately.

And, unless you turned age 70.5 in 2017, your 2017 RMD was supposed to be taken by 12/31/2017.

If you did just turn 70.5 in 2017, then you have also have to take your 2018 RMD's this year.

Critter
Level 15

I have a 401K and an ind IRA can I combine the 2 for the RMD and withdraw money only from my 401k

Now if you roll the 401K into the IRA then you would only have an IRA to take the RMD from.
SweetieJean
Level 15

I have a 401K and an ind IRA can I combine the 2 for the RMD and withdraw money only from my 401k

But not for 2017.
Critter
Level 15

I have a 401K and an ind IRA can I combine the 2 for the RMD and withdraw money only from my 401k

Yes... too late for 2017 and for 2018 since the RMD is based on the value of the account on 1/1/18 ... but for the future tax years.
Critter
Level 15

I have a 401K and an ind IRA can I combine the 2 for the RMD and withdraw money only from my 401k

Of course ... and RMD on the 401K is only required as long as you have the 401K ... changing it to the IRA would stop those required payments ... it is an option.  Discuss this with the administrator of both the 401K & the IRA.
foray
Level 1

I have a 401K and an ind IRA can I combine the 2 for the RMD and withdraw money only from my 401k

I will be 70 on 01/26/2018
macuser_22
Level 15

I have a 401K and an ind IRA can I combine the 2 for the RMD and withdraw money only from my 401k

Then your first 401(k) and Traditional IRA RMD's are due by Dec 31, 2018 (the year that you turn 70 1/2) but the Traditional IRA RMD can be delayed until April 1, 2019 if you desire, but then you would have to take two RMD's in 2019.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
dmertz
Level 15

I have a 401K and an ind IRA can I combine the 2 for the RMD and withdraw money only from my 401k

Any RMD for the 401(k) must be satisfied before rolling over the remainder of your 401(k) to an IRA.
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