RMD for non 5% owner retiring after age 70 1/2
Employee (non 5% owner) retires in December 2016 from work.
Regarding their 401k plan, it appears that their required Required Beginning Date (RBD) is April 1 of the year following year of retirement, in this case 2017.
Question – Since RBD is 4/1/17 do they only have to take 1 distribution in 2017?
If RBD is 4/1/17 does that mean if they take the distribution in Feb 2017 it does not qualify for the RMD?
Thanks as always
Howard
Permalink Submitted by Alan - IRA critic on Thu, 2016-12-22 16:46
Permalink Submitted by Howard Hook on Thu, 2016-12-22 18:12
Thanks Alan!Appreciate the helpHoward