Permalink Submitted by Alan Spross on Mon, 2010-10-04 22:59
No, unless:
1) He is 5% or greater owner of the firm
2) His plan is one of the few that requires RMDs to start at 70.5 despite the IRS “still working” exception. This is unlikely, but should be checked out with the plan administrator.
Of course, any older 401k accounts from other employers are subject to age 70.5 RMDs.
Permalink Submitted by Alan Spross on Mon, 2010-10-04 22:59
No, unless:
1) He is 5% or greater owner of the firm
2) His plan is one of the few that requires RMDs to start at 70.5 despite the IRS “still working” exception. This is unlikely, but should be checked out with the plan administrator.
Of course, any older 401k accounts from other employers are subject to age 70.5 RMDs.