The still-working rule does *not* apply to IRAs, including SEP and SIMPLE IRAs. Even though contributions can be made to SEP and SIMPLE IRAs after 70½, the SEP and SIMPLE IRAs are subject to RMDs for the year the individual reaches age 70½ and thereafter, whether or not still working. The still-working exception to taking RMDs applies only to qualified retirement plans (401(k), 403(b), 457(b), 401(a), ESOP and federal TSP plan), and only if the individual is not a more than 5% owner of the company in the year the individual reaches age 70½.
