Let's be clear, there are lots of plans with different rules. IRAs and qualified workplace plans (401k, etc.) are different and have different rules.
Assuming you were born in 1946, your RMDs began at age 70-1/2, in 2016 or 2017.
- If you have an IRA, SEP or SIMPLE plan, you must withdraw at least the RMD amount each year, starting at age 70-1/2, even if you are still employed.
- If you have a qualified workplace plan with a former employer who you no longer work for, your RMDs began when you turned 70-1/2.
- If you have a qualified workplace plan and are still employed with the plan sponsor, and you own less than 5% of the company, you can delay your first RMD until the year after you retire.
I hope you don't have 9 years of missed RMDs. If you do, you need to see a qualified tax accountant ASAP.
