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ca5bo8g2
September 29, 2019
Question

RMD and still working

  • September 29, 2019
  • 1 reply
  • 0 views

I'm 70-1/2 Self employed with a simple IRA and still working and contributing, do I have to

take a RMD?

    1 reply

    macuser_22
    macuser_22
    September 29, 2019

    Yes.   The rule for 401(k) plans that allow you to defer the RMD if still working does not apply to IRA's.

     

    See IRS Pub 560 page 11.

    https://www.irs.gov/pub/irs-pdf/p560.pdf

     

    And IRS Pub 590B "When Must You Withdraw Assets? (Required Minimum Distributions)"

    https://www.irs.gov/publications/p590b#en_US_2018_publink1000230701

    **Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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