Loans on Ind 401k’s
Hello,
I have a client who has an Individual 401K were they are taking RMD’s however they also have an existing loan on the 401K. Does the loan balance have any factor on the annual RMD amount that the client needs to satisfy? Any help would be appreciated.
Thank you,
Permalink Submitted by Alan - IRA critic on Wed, 2020-02-19 20:32
The loan balance is still included in the year end value, and only deemed distributions reported on Form 1099R can be excluded.