Rollover from IRA to 412 i plan
I have an IRA and a 412 i plan. The 412 i plan requires me to make contributions for the next two years. If I took money out of the IRA to make the payments on the 412 i plan would that be considered a rollover since both are qualified plans? Or would I have to pay taxes on the withdrawn amount? I’m over 59 1/2 years of age.
Permalink Submitted by Alan - IRA critic on Wed, 2020-04-15 18:32
You could distribute your IRA to make deductible contributions to the 401i, but I don’t know if the plan can accept rollovers from IRAs despite being qualified plans, and you certainly would not get a deduction for a rollover. Best to check with the plan administrator on this question.