Dear Alan et al,

My client turned 70 in December of 2017. In April 2018, she opened a SEP and funded it for the 2017 tax year. Thus, she didn’t have a 12-31-2017 balance in the account.

Am I correct that she will not need to take a RMD from this SEP for the 2018 calendar year? I understand that she could wait until April 2019 to take her first RMD if she had a 12-31-2017 balance.

Thanks in advance,

Chris