The Motley Fool Discussion Boards

Previous Page

Financial Planning / Foolish 401(k)s


Subject:  Re: Past 70-1/2 Date:  12/9/2007  12:19 PM
Author:  TMFPMarti Number:  22730 of 26314

Upon 70-1/2 one must begin to withdraw the Required Minimum Distribution, starting with [total $401k/27.4],from his/her 401k. May one continue to contribute into his/her 401k when past 70-1/2 years old?

Yes, assuming you're still working for the sponsor. Under such circumstances you can also delay starting RMD's until you leave unless you're a significant percentage owner. (Your plan may require you to take then anyway, but tax law doesn't.)

See IRS Publication 575.

Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us