RMD on SEP
Client is making a 2011 contribution to his SEP in 2012. He is currently 71, will he need to take an RMD from this account even though there is a zero balance in the account at year end and will not be established till tax time?
Client is making a 2011 contribution to his SEP in 2012. He is currently 71, will he need to take an RMD from this account even though there is a zero balance in the account at year end and will not be established till tax time?
Permalink Submitted by Alan Spross on Tue, 2012-02-07 18:44
No 2012 RMD because there will be no 12/31/2011 account balance.