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    MDR and 401K

    If a t/p is still working and contributing to their 401K and turned age 71 on 12/18/05 are they required to take a minimum distribution from their 401K plan?

    Sandy

    #2
    Sandy, When do you sleep?

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      #3
      Sleep What is That

      There is no time to sleep at tax time. But then when tax time is over I am already in that pattern and a nite owl. My clock just doesn't work right. But remember, I am Calif time which is right now 11PM.

      Now if you take a look there are other nite owls as well, like JG, but then I notice that you seem to be also on the West Coast.

      Sandy
      Last edited by S T; 02-23-2006, 04:00 AM.

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        #4
        Veritas

        Keep posting and we will soon get you to Senior Member status.
        I am just posting non tax stuff right now as I am frustrated with several returns and need a diversion.

        Sandy

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          #5
          Sandy,

          Your 401(k) question is found in TTB, page 13-23, "For a participant in a qualified pension plan, RMD begins by April 1 of the year following the later of the year:
          1)The employee turns age 70 1/2, or
          2) The year the employee retires."

          TTB then goes on to list exceptions.

          Comment


            #6
            Original Question

            TTB page 13-23

            Qualified plans RMD by 4/1 of year following the later of the year:

            1) Employee turns 70 1/2
            2) Employee retires

            Some employer plans require dist at 70 1/2 even though tax law states retirement. 5%+ owners of stock, capital or profit interest must start by age 70 1/2.

            Matt
            I would put a favorite quote in here, but it would get me banned from the board.

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