WebFeb 27, 2024 · There is a general RMD 401 (k) rule which states that even after age 70 ½, you are not required to take distributions from an employer 401 (k) when you are still working for that employer. However, this exception does not apply to account holders or their spouses who own 5% or more of the company. In other words, business owners who use a Solo ... WebDec 6, 2024 · The good news of the still-working exception is that it avoids the requirement to begin taking mandatory RMD withdrawals from a current employer’s retirement plan. The planning opportunity, though, is to go one step further – and to roll other retirement account balances into the employer retirement plan, so those balances are not subject to RMDs …

Do I Still Need an RMD if I

WebMay 30, 2024 · “Still working” means you have not retired from the position in which you were covered by the 403(b) plan. If you retire from a teaching position and continue to work for the school as an occasional substitute teacher, you are no longer contributing to the 403(b) plan, and thus you are considered retired. Check with … Continue reading "How … WebOct 2, 2024 · When an employer plan has a still-working exception, then the first RMD must be made for the year of separation from service – even if the last day of work is … finax vélemény

Required minimum distributions on retirement plans are back

WebMay 20, 2024 · Maximizing the Benefit of the Still Working Exception. Increasing Value of the Employer’s Plan: The still-working exception applies only to the current employer’s … WebNov 30, 2024 · Kotwal points out that if John leaves the 401(k) with the financial services company, then he would be required to take RMDs from the account, as “the still-working … WebOct 2, 2024 · When an employer plan has a still-working exception, then the first RMD must be made for the year of separation from service – even if the last day of work is December 31 of that year. fina vizilabda jegyek