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Still-working Exception and RMDs: Today’s Q&A Mailbag

This week's Slott Report Mailbag looks into the still-working exception and RMDs.

How Familiar Are You with NUA Rules? This Week’s Q&A.

This week's Slott Report Mailbag examines NUA rules and the "still working" exception.

Are You Over 70.5 Years Old and Still Working? Understand Your Options With RMDs: This Week’s Q&A

This week's Slott Report Mailbag examines RMDs when you are still working past 70.5 years old and inheriting multiple IRAs.

Six Things to Know About the Year-End Account Balance Used for RMDs

1. General Rule As a general rule, the account balance used for calculating required minimum distributions (RMDs) is the prior year-end account balance, with no adjustments. For example, if you are calculating an RMD for 2017 you would use the 2016 year-end account balance. If you are calculating a missed RMD for 2014, you would use the 2013 year-end account balance. If you have your first RMD due for 2017 and you take that RMD in March of 2018, you still use the 2016 year-end account balance. As usual with retirement distribution rules, there are some exceptions to the general rule.

RMDs When You Move Money from an Employer Plan to an IRA

Jenny has a 401(k) plan at work and she has an IRA. Jenny is 72 but is still working. Her employer plan has a “still working” exception so Jenny does not have to take required minimum distributions (RMDs) from her plan. However, she does have to take RMDs from her IRA.

Who Doesn’t Need to Take a 2016 RMD by December 31?

Fall is in the air and the holidays are just around the corner. For many retirement account owners, this means that an important deadline is approaching. Most of those who are 70 ½ or older will need to take a 2016 RMD by December 31, 2016. However, that deadline does not apply to everyone. If you are age 70 ½ or over, when would an RMD not be required to be taken from your retirement account by the upcoming December 31 deadline? Here are some exceptions that might apply to you.

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