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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?

TB
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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.

Phil
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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.

Phil


Thanks Phil. However Pub 575 is 'Pension and Annuity Income'. Skimming Pub 575 has not proved fruitful.

I wonder if you may have meant the answer to my question is buried in Pub 590 'Individual Retirement Arrangement (IRAs'.

TB
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However Pub 575 is 'Pension and Annuity Income'. Skimming Pub 575 has not proved fruitful.

Let's see if we can't improve your crop yield.

A 401(k) is a "qualified employee plan," and Pub 575 is the right one. The information I was referencing is on page 31 under "Tax on Excess Accumlation." Sorry I didn't give you a better road map the first time. I'm so used to looking for it there rather than where a rational person would look, something like "Required Distributions," that I forgot.

Phil
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