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Required Minimum Distributions and Simple IRAs: Today's Slott Report Mailbag Thumbnail

Required Minimum Distributions and Simple IRAs: Today's Slott Report Mailbag

In this article, Ed Slott's team answers questions regarding required minimum distributions and simple IRAs that have been objects of confusion over the years.

Whether you have questions about RMDs or Simple IRAs, here are a couple of answers for you.


I have an inherited IRA from my father. He was born 9-27-1927 and died 7-19-2019 at age 91. I was born 12-13-1952 and my age is 70. Two on-line calculators offered by brokerages show the factor this year (2022) to be 18.4 on my inherited IRA from my father. I cannot verify that factor on any of the IRS tables. Could you copy me or direct me to the correct table?

Many thanks,


Since you were born in 1952, you turned 67 in the year your dad passed away (2019). Required minimum distributions (RMDs) on that account started in 2020 when you turned 68. (Even though RMDs were waived in 2020 by the CARES Act, we still use 2020 to calculate future RMDs.) Using 68 and the Single Life Expectancy Table, your corresponding factor in 2020 was 20.4. We then subtract 1 from that original factor for each successive year. In 2022 your RMD factor is down to 18.4. In 2023 it will be 17.4, etc. Note that we must use the new version of the Single Life Expectancy Table introduced in 2022 and overlay those numbers back to your first RMD year in 2020.

Can a client convert SIMPLE IRA assets to a Roth?  Thank you for your help.



Historically, SIMPLE plans were not allowed to maintain a Roth component. Meaning, you could not house Roth dollars within a SIMPLE. However, pre-tax SIMPLE dollars can be converted to a Roth IRA, which will exist outside of the confines of the SIMPLE plan. Be aware that, to avoid any penalties, there is a 2-year wait period before SIMPLE dollars can be withdrawn or converted to a Roth IRA. (*Note that SECURE 2.0, passed just last week, allows SIMPLE plans to have a Roth component beginning in 2023. How pre-tax SIMPLE dollars can be converted to Roth SIMPLE within the plan is still unknown.)

By Sarah Brenner, JD
Director of Retirement Education
Ed Slott and Company, LLC

Copyright © 2022, Ed Slott and Company, LLC Reprinted from The Slott Report, 12/29/22, with permission. https://www.irahelp.com/slottreport/required-minimum-distributions-and-simple-iras-todays-slott-report-mailbag, Ed Slott and Company, LLC takes no responsibility for the current accuracy of this article. Chris Cordoba, founder of California Retirement Advisors, is a member of Ed Slott's Master Elite IRA Advisor Group.
Investment advisory services offered through Mutual Advisors, LLC DBA California Retirement Advisors, a SEC registered investment adviser. Securities offered through Mutual Securities, Inc., member FINRA/SIPC. Mutual Securities, Inc. and Mutual Advisors, LLC are affiliated companies. CA Insurance license #0B09076. This content is developed from sources believed to be providing accurate information and provided by California Retirement Advisors. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. California Retirement Advisors, nor any of its members, are tax accountants or legal attorneys and do not provide tax or legal advice. For tax or legal advice, you should consult your tax or legal professional.