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Level 1

Question

401 K withdrawals

Forum|Forum|6 years ago
December 17, 2019
1 reply
13 views

If you are working full time at age 70, are you still required to make minimum withdrawals from your 401K acounts?

401K

Alumni - Expert

Alumni - Expert

In general, you are required to begin taking Required Minimum Contributions (RMD's) from your 401(k) plan the later of the calendar year in which you reach age 70½ or when you retire.

However, the specific terms of your 401(k) plan govern when you must begin RMD's. You will need to check with your 401(k) Plan Administrator to determine whether or not you can delay your RMD's until you actually retire.

For more information, you can click this link to check out this IRS Retirement Topic: Required Minimum Distributions (RMD's).

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Trevor Grodzian

Level 2

I have a question for you i did my taxes and was wondering if my 401k was added to them.

Level 15

@Trevor Grodzian wrote:

I have a question for you i did my taxes and was wondering if my 401k was added to them.

Absolutely no one but you can view your tax return.

Was this a contribution to a 401(k) or a withdrawal from a 401(k)?