RMD for SEP IRAs
Hello,
Thank you in advance for answering my question. As an active independent contractor with earned income, can RMDs from a SEP IRA be postponed like an active employee of company sponsor 401k?
Thanks again.
Hello,
Thank you in advance for answering my question. As an active independent contractor with earned income, can RMDs from a SEP IRA be postponed like an active employee of company sponsor 401k?
Thanks again.
Permalink Submitted by Alan - IRA critic on Thu, 2016-04-28 00:22
No. After 70.5 SEP and SIMPLE IRA accounts are subject to RMDs even though new contributions can be made to those accounts. A solo K would not help either since you would be a 5% or greater owner and subject to RMDs at 70.5 whether retired or not.