Coronavirus (COVID-19) News and Resources
Coronavirus (COVID-19) Webcasts
Subscribe to Free Daily Newsletters
Post a Job

Featured Jobs

Retirement Plan Administrator

SPS
(Telecommute)

SPS logo

Retirement Plan Administrator

Steidle Pension Solutions, LLC
(Lebanon NJ)

Steidle Pension Solutions, LLC logo

Senior Plan Consultant

Jocelyn Pension Consulting
(Telecommute / San Rafael CA / Boulder CO)

Jocelyn Pension Consulting logo

Director of Regulatory Affairs

Health Plans Inc
(Westborough MA)

Health Plans Inc logo

Retirement Plan Consultant

DWC - The 401(k) Experts
(Telecommute)

DWC - The 401(k) Experts logo

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Get the BenefitsLink app LinkedIn
Twitter
Facebook

<< Previous news item   |   Next news item >>



Your RMD Must Come Out of Employer Plan Before Moving Funds to an IRA
Slott Report Link to more items from this source
Dec. 6, 2014
"An RMD amount cannot be rolled out of a plan and go to an IRA.... [W]hen the plan sends the entire plan balance to you or to an IRA account without sending you a check for the RMD, what you end up with is an excess contribution in the IRA. You can't fix this by just taking out the RMD amount. You must tell your IRA custodian that you are removing an excess contribution. In order to remove an excess contribution, you must also remove the earnings attributable to the excess contribution."

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2020 BenefitsLink.com, Inc.