pixiebear Posted January 29 Posted January 29 We have a client who failed their ADP test and will be making a refund to the owner of the company. He is over age 73 and will need to take an RMD for 2025. Can the refund be treated as his RMD since it is a taxable distribution?
C. B. Zeller Posted January 29 Posted January 29 No. Only distributions that would otherwise be eligible rollover distributions may be used to satisfy the RMD. See 1.401(a)(9)-5(g)(2)(ii). Bri and Belgarath 2 Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
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