RMS delays and Solo 401ks

N Ravo · 2015-03-29T19:19:46+00:00

1. If I am self-employed and contribute each year into a Self-Directed 401k, must I make RMDs at 70 1/2 if I am still working? 2. If so, can I roll money in advance from a traditional IRA into the solo 401K? Thanks

Mar 29, 2015 1 Replies

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N Ravo 11 years ago

If I am self-employed and contribute each year into a Self-Directed 401k, must I make RMDs at 70 1/2 if I am still working?

If so, can I roll money in advance from a traditional IRA into the solo 401K?

Thanks

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Alan 11 years ago

Yes you must take RMDs at age 70 1/2 as you have more than a 5% interest in the capital or profits of your business.

I am not sure what you are asking so I will answer it this way.

You can't roll over RMDs to avoid taxation. At age 70 1/2 you would have to take an RMD from your IRA(s) and an RMD from your 401K.

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