Rollovers of 2009 Required Minimum Distributions


Last year, Congress: (1) suspended the required minimum distribution (“RMD”) requirements for 2009 for IRAs and qualified defined contribution plans (including 401(k) plans) and (2) permitted certain amounts that are distributed as RMDs in 2009 to be rolled over into an IRA or other retirement plan without being taxed in 2009. Last month, the Internal Revenue Service issued a Notice that extends the time in which a recipient can roll over 2009 RMDs to the later of (i) November 30, 2009 or (ii) 60 days after the date the distribution was received. However, in the case of RMDs from an IRA, only one 2009 distribution will qualify for this extended deadline.

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