RMD for owner of firm?

Good afternoon,
I wanted to confirm this. Client is owner of his firm and has a retirement plan with us. I believe it is a Money Purchase Pension Plan and he just turned 70 & 1/2 this year. I sure RMD’s from his IRA this year but also his employer plan too since he is the company owner? Is that correct?
Thanks in advance,



You are correct – anyone who owns 5% or more of the business must take RMDs from the company retirement plan.



Add new comment

Log in or register to post comments