an individual has a profit sharing plan and a money purchase plan with the same employment. can the RMD be done with one check from one of the accountings by combining the year end balance of both accounts?
keough and pension plan distributions
Mar 24, 2013
1 Replies
You are required to calculate the MRD for each qualified plan and then take that MRD from each plan. There are two possible ways to get around this:
- If one of the plans allow for a rollover from another qualified plan, then you would only have one plan to calculate the MRD if you perform the rollover.
- Rollover both plans to an IRA or multiple IRA accounts. As long as the IRA accounts are all set up such that they use the same life expectancy table you could calculate the MRD using the aggregate year-end balances and take the distribution from those IRA accounts in any manner you prefer.
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