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I'm fully retired,but i still work full time.I have several IRA's and a 401k. Can i satisfy all my RMD's wth one withdrawl from my 401?

 
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I'm fully retired,but i still work full time.I have several IRA's and a 401k. Can i satisfy all my RMD's wth one withdrawl from my 401?

No.  You have to do the IRAs and 401K separately.  You can combine the IRAs and take them out of one.

 

Each plan might automatically send you the amount at the beginning of the year.  Mine did.  If they are the same kind of accounts like IRA you can take the total RMD for all of them from one account or split it up.  You have to take the RMD separately from IRA and 401k accounts.

 

Once you determine a separate required minimum distribution from each of your traditional IRAs, you can total these minimum amounts and take them from any one or more of your traditional IRAs.

 

See this IRS FAQ on RMDs….

http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-Required-Minimum-Distributions

 

Here is a worksheet to calculate the RMD

https://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

 

IRS Publication 590B on IRA Distributions

https://www.irs.gov/pub/irs-pdf/p590b.pdf

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Highlighted
Level 15
Intuit Approved!

I'm fully retired,but i still work full time.I have several IRA's and a 401k. Can i satisfy all my RMD's wth one withdrawl from my 401?

No.  You have to do the IRAs and 401K separately.  You can combine the IRAs and take them out of one.

 

Each plan might automatically send you the amount at the beginning of the year.  Mine did.  If they are the same kind of accounts like IRA you can take the total RMD for all of them from one account or split it up.  You have to take the RMD separately from IRA and 401k accounts.

 

Once you determine a separate required minimum distribution from each of your traditional IRAs, you can total these minimum amounts and take them from any one or more of your traditional IRAs.

 

See this IRS FAQ on RMDs….

http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-Required-Minimum-Distributions

 

Here is a worksheet to calculate the RMD

https://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

 

IRS Publication 590B on IRA Distributions

https://www.irs.gov/pub/irs-pdf/p590b.pdf

View solution in original post