SEP IRA After 70 1/2
If someone is over 70 1/2 and opens a new SEP IRA in 2018, their first RMD is not due until 2019 since 12/31/2017 SEP IRA value was 0 (ie. it didn’t exist yet). Correct? Thank you!
If someone is over 70 1/2 and opens a new SEP IRA in 2018, their first RMD is not due until 2019 since 12/31/2017 SEP IRA value was 0 (ie. it didn’t exist yet). Correct? Thank you!
Permalink Submitted by Alan - IRA critic on Fri, 2018-12-21 00:50
Yes, that is correct.