If you are still working at age 70½ and own a traditional IRA, you have to start taking required minimum distributions from the IRA but not from your 401(k) or other retirement savings plan at work (i.e., at your current job). If you want to avoid RMDs on the IRA and intend to keep working for a while longer, you could roll over your IRA into your 401(k) or other employer-sponsored plan if your employer allows this (and many employers do) and take advantage of the "still working exception." The same goes for doing a rollover from a traditional IRA into a 403(b) plan. Upon retirement, when you must start making RMD withdrawals, you can roll the funds back to an IRA, if desired.
You can only roll over tax-deductible contributions and earnings. Thus, if you also made non-deductible contributions, you won't be able to transfer the full amount. Rather, you'll need to subtract out your tax "basis" when determining the amount that you can move. To do this, consult copies of Form 8606 that you filed when you made non-deductible IRA contributions. You are also not permitted to roll over the balance in an inherited IRA or to do a rollover if you own 5% or more of the company that you work for.
Examine the pros and cons of making this move and consider hiring a financial adviser to run some projections for you. If you have a high account balance and postpone withdrawals a number of years, you will need to make very large RMD withdrawals when you eventually retire. In addition, you need to look at the investment options and expenses associated with your employer's 401(k). If there is a poor menu of 401(k) plan options or high fees, you might be better off keeping the IRA and making RMD withdrawals. Another factor to consider is your employer's procedures for easily accessing your 401(k) balance to withdraw funds.
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