From Ed Slott, and the Slott Report, which focuses on IRA's:
REMINDER: RMDS ARE BACK FOR 2010
This is just a reminder that there are required minimum distributions (RMDs) for 2010 from defined contribution plans (401(k), 403(b), 457 type plans) and from IRAs.
The suspension of RMDs has not been extended - as of the release of this update.
Individuals who turned 70 1/2 in 2009 will calculate their RMDs for 2010 as though there was no suspension last year. They do not have to take the 2009 RMD before April 1, 2010.
All other individuals will also calculate their distributions as if the 2009 suspension did not exist. If you are doing a Roth conversion you must take your RMD before doing the conversion. The RMD amount cannot be converted to a Roth IRA. RMDs cannot be rolled over and the first funds out of an IRA are considered to be the RMD.
This is an important fact to remember as the calendar has turned to 2010. And it is worth repeating: The suspension of RMDs has not been extended - as of the release of this update. Individuals who turned 70 1/2 in 2009 will calculate their RMDs for 2010 as though there was no suspension last year. They do not have to take the 2009 RMD before April 1, 2010.
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