The Still-Working Exception and Roth Conversions in an RMD Year: Today’s Slott Report Mailbag

Question:

If you continue to work past age 73, are you exempt from required minimum distributions (RMDs)? My 73 year-old wife is still working and contributing to her company’s 401(k), and she doesn’t own more than 5% of the company. Is she required to take out any RMD? 

Could you please clarify this rule for me? Thank you.