If I am over 70 1/2 years old and still working, can I rollover my 401(k) to an IRA ?

Yes you can - once you reach 59-1/2 you can withdraw money from your 401(k) plan, so I don't see why you couldn't roll it to an IRA. Please keep in mind that at 70-1/2 you are required to take distributions from both your 401(k) and IRA (the Fed wants to get their hands on the income tax due sooner rather than later).

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Originally Posted by ebaines

Yes you can - once you reach 59-1/2 you can withdraw money from your 401(k) plan, so I don't see why you coudn't roll it to an IRA. Please keep in mind that at 70-1/2 you are required to take distributions from both your 401(k) and IRA (the Fed wants to get their hands on the income tax due sooner rather than later).

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In addition, please remember to take that Required Minimum Distribution (RMD), otherwise, Uncle Sam is going to take 50% penalty for failing to take the RMD -- that's a hefty penalty!:mad:

Actually, if you're still working you don't have to take RMDs from that 401K until you retire.