You may qualify for an exception from taking RMDs from your current employer-sponsored retirement account, such as a 401(k), 403(b), or small-business account, if:
- You're still working
- You do NOT own more than 5% of the business you work for
- You have an employer-sponsored retirement account with the business you work for.
If you meet all the criteria above, you may delay taking an RMD from the account until April 1 of the year after you retire. Keep in mind that this does not apply to IRAs or other accounts you may hold with companies you no longer work for.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
