Dec. 31 not only marks the end of the year, it's also the final deadline for retirees and inheritors of retirement accounts to take their required minimum distributions. Here's how to do it without running afoul of the rules and having to pay a penalty.
That's because of what's called the aggregation rule.
That rules does not apply to 401 plans. If you have multiple 401 accounts, you have to take money from each one."You can't ever take from one category of account to satisfy an RMD on another one," Slott said.If you're 70½ and still employed, you could get a break from taking your RMD, but only in certain circumstances, Slott said.
That generally doesn't apply to you if you inherited the money from your spouse. That is because spouses can do a rollover and keep deferring those distributions, Slott said.
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