IRA Rules

Posts Tagged ‘roth ira age rules’

Question: RMD’s – does someone 75 years old need to take rmd’s out of a 401K?

I know they have to take it out of the tax-deductible IRA starting at age 70 1/2 or so.
But not out of the ROTH.

But can you let money sit in a 401K until whatever age you want to take it out?
Or does that also follow RMD rules.

Excuse me, I’m young, and just learning.
I love to learn.
Why the government forces you to take money out – baffles me.

Answer: Yes, unless you’re still working for the company, in which case RMDs may be delayed until April 1 of the year after you retire. Check with the Plan Administrator to find out if the Plan allows it.

Otherwise, 401(k)s follow the same RMD rules applicable to IRAs.

Incidentally, while Roth IRA owners need not take RMDs, Roth beneficiaries do!

Hope that helps.

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DISCLAIMER: While the information in this response was obtained from sources believed to be reliable, its accuracy and completeness cannot be guaranteed. The opinion voiced in this answer is for general information only and it shall not be construed as tax, legal, or investment advice for any individual, nor shall it be considered a solicitation for business. Questioners are urged to consult with their professional advisers before making any decisions regarding their finances.

Bradley Mann, CFP®, EA, BCE, CFS, AAMS
Certified Financial Planner™ Practitioner
Enrolled Agent | Admitted to Practice before the IRS
Board Certified in Estate Planning

IRA GALLEN AGE 16 AUDIO 1967 at 5:45 AM BKLYN NY MARINE PARK