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March 6, 2009

Can an RMD be Rolled Over?


Can an RMD be Rolled Over?

Question I began receiving required minimum distributions from my company’s retirement plan. Can l roll over these amounts into my IRA?


No. Rollovers to IRAs of required minimum distributions (RMDs) from a different retirement plan are not permitted. This is true whether the RMD is made because you turned age 72 or because you retired after age 72. If you receive your entire account balance in a lump sum, any portion that is an RMD cannot be rolled over, but the remainder can be. For example, if you are retired from the company holding your retirement plan and turned 72 this year, part of any lump sum received this year cannot be rolled over because the lump sum will include your first year’s RMD, even though your first year’s RMD can be put off until April 1 next year.

*******This Q&A was taken from the IRS’s Summer 2008 Employee Plan Newsletter ******


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