RMD if still working
have client that is 73, still actively at work and not an owner. if they work part of the year are they required to take their RMD or can they wait until the following year when will not have worked at all to start rmd’s
have client that is 73, still actively at work and not an owner. if they work part of the year are they required to take their RMD or can they wait until the following year when will not have worked at all to start rmd’s
Permalink Submitted by Alan - IRA critic on Wed, 2024-04-03 03:13
This response assumes a non IRA plan (401k, 403b etc). Should the client retire any time in 2024, then 2024 will become their first RMD distribution year but the first RMD can be deferred in whole or in part to as late as 4/1/2025. Deferral would result in 2 years of RMDs distributed in 2025.