I file a schedule "C" and have a Vanguard solo 401K plan (no employees) and will turn 72 in 2020.
All employee deferral contributions over the years were made into the Roth 401-K portion. No employer pre-tax contributions were ever made.
It is my understanding that, as more than a 5% owner, I will need to take an RMD from the plan beginning this year.
Do I have this correct ? Thanks for comments.
All employee deferral contributions over the years were made into the Roth 401-K portion. No employer pre-tax contributions were ever made.
It is my understanding that, as more than a 5% owner, I will need to take an RMD from the plan beginning this year.
Do I have this correct ? Thanks for comments.
Comment