Message Font: Serif | Sans-Serif
No. of Recommendations: 0
<< I was 70 and1/2 in Nov. 1999. I chose to delay my required distribution from my 403b and ira until 2000(prioor to 4/1). I will be transferring my 403b(retired 2/1/00) to an ira and want to know if I am required to take a distribution from the 403b since it will not exsist after the transfer?
I am taking a min. distribution from the ira based on the 12/31/99 value so the additional $'s from 403b should not affect that calculation. >>

I'm no 403(b) expert, so I hope you get a more definitive answer, but I suspect that 12/31/1999 was the determining date for both minimum distributions, and you must take both.

One thing I am sure about that I want to remind you of is that the distribution you're taking by 4/1/2000 is for 1999, a year you were required to take a distribution. You are required to take another distribution for 2000 by 12/31/2000.

Phil Marti
Tax Preparer
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.