rollover payment from immediate annuity

[Guest KRS401k]

A client has an immediate annuity IRA that was opened with a transfer of an existing IRA, not a pension.

Are they allowed to rollover the payments they are receving from the annuitized contract into another account?

Thanks!

[mbozek]

A client has an immediate annuity IRA that was opened with a transfer of an existing IRA, not a pension.

Are they allowed to rollover the payments they are receving from the annuitized contract into another account?

Thanks!

If the client has elected to receive periodic annuity payments then the MRD is the amount of payments and no amount of the payment can be rolled over.

If the client has not elected to receive periiodic benefits under the IRA annuity contract then MRDs under the reg 1.401(a)(9)-5 rules for DC plans must be taken each year.