Guest ccharper Posted June 22, 2007 Posted June 22, 2007 If I have a participant that died in 2001 and the nonspousal beneficiary has been taking the RMD under the life expectancy rule, with the passage of PPA, can that beneficiary rollover the balance in the plan (minus the 2007 RMD) to an inherited IRA? Thanks!
Guest ccharper Posted August 7, 2007 Posted August 7, 2007 Does anyone know the answer to my question? Please help. The plan is terminating and I need an answer. Thanks!!
Mike Preston Posted August 7, 2007 Posted August 7, 2007 The plan must allow for the rollover of non-spousal monies. In a plan termination, the IRS will allow adding this provision after the termination date, although I think it would be better practice to add it before or coincident with the termination itself. There are some documents where the pre-PPA language could be read to enable such non-spousal rollovers without the need for an amendment. But, if the plan allows it, then it should be something you can get done.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now