2020 ROLL BACKS TO CLOSED FUND | Ed Slott and Company, LLC


Froze 2020 RMD from reg IRA at Tiaa. Tiaa fund was paying 3% guaranteed. That fund has been closed for some time. The open fund pays only 1%. According to Tiaa, If I roll back my 2020 Rmd $ I cannot access the 3% fund they came from. Rather, only the open 1% fund is available. Has anyone come across this issue Prohibiting roll backs to (original RMD source) closed investment vehicles?

No, but this has probably occurred to a few others since the IRS notice. Funds close in different ways, but this fund evidently is closed to all deposits regardless of the situation. If TIAA is willing to accept the repayment in the other fund, I assume that both these funds are in the same TIRA account, since Notice 2020-51 requires the repayment be made to the "distributing IRA".  Therefore, you at least do have the repayment option available, although it will be earning a much lower interest rate.


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