Announcement

Collapse
No announcement yet.

RMD AT Age 72

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    RMD AT Age 72

    Client was age 72 in 2016 and worked (W-2 Earner) until 12/08/2016.
    Previously never took an RMD from 401-K. Am I to understand that, because
    she was still working, her initial RMD was not due til 4/01/2017? Hence, no
    RMD was required for 2016 or previous?

    #2
    Originally posted by Consultant View Post
    Client was age 72 in 2016 and worked (W-2 Earner) until 12/08/2016.
    Previously never took an RMD from 401-K. Am I to understand that, because
    she was still working, her initial RMD was not due til 4/01/2017? Hence, no
    RMD was required for 2016 or previous?
    "Beginning date for your first required minimum distribution
    IRAs (including SEP and SIMPLE IRAs)
    April 1 of the year following the calendar year in which you reach age 70½.

    401(k), profit-sharing, 403(b), or other defined contribution plan
    Generally, April 1 following the later of the calendar year in which you:
    reach age 70½, or retire."

    reference for above:
    Review the required minimum distribution rules for certain retirement plans, including traditional IRAs, SEP IRAs, SIMPLE IRAs and 401(k) plans.
    Always cite your source for support to defend your opinion

    Comment


      #3
      Thanks

      Thanks for the info

      Comment

      Working...
      X