Required Minimum Distribution
If your wholly owned corporation is still and business and has an active profit sharing plan and the 100% owner is over 70.5, do you have to do a RMD?
If your wholly owned corporation is still and business and has an active profit sharing plan and the 100% owner is over 70.5, do you have to do a RMD?
Permalink Submitted by Alan - IRA critic on Wed, 2019-09-25 22:48
Yes. RMDs must begin at 70.5 if you are a greater than 5% owner of the company.