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I turned 72 years of age in 2023. I am working full time and expect to continue to do so for some time. I have a 401K through my employer. When will I be required to start taking MRD? Is there a way to extend the start of MRD because I am still employed full time? And can I roll over MRD from a 401k into something tax free after I  am required to take MRD?

2 Replies
Employee Tax Expert



Great question!

The need to take an RMD (required minimum distribution) is dependent upon the type of retirement account you have.   Owners of traditional IRA, and SEP and SIMPLE IRA accounts must begin taking RMDs once the account holder is age 72 (73 if you reach age 72 after Dec. 31, 2022), even if they're retired.   Account owners in a workplace retirement plan (for example, 401(k) or profit-sharing plan) can delay taking their RMDs until the year they retire, unless they're a 5% owner of the business sponsoring the plan.  I recommend you talk to your retirement plan company for more information and you can also access  this article for some more helpful information about RMD's.

If you are required to take an RMD, this article does a great job of addressing that first year of RMD timing considerations.
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Level 15


Because you will be working beyond age 73, the first year for which you will be required to take an RMD from the 401(k) plan provided by your employer will be the year in which you separate from service from this employer.  RMDs are not eligible for rollover, so the plan must distribute to you any RMD for the year before you are permitted roll over any other amounts.

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