Question

401k RMD when required

I will be 73 this year but have continued working full time for the employer managing my 401k and so have not made any RMD withdrawals.

I am planning to retire in July of 2021.

Will I be required to take an RMD in 2021 based on the December 31, 2020 balance?

Yes, you will be required to make required minimum distributions in 2021 based on your retirement balance at the end of 2020.

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