Tag Archives: RMD

Who is Required to Take Required Minimum Distributions (RMD) form their Self-Directed Solo 401(k) Plan in 2022?

2022 Solo 401k RMD

Your required minimum distribution (RMD) is the minimum amount you must withdraw from your self-directed solo 401k account each year. Unfortunately, you can’t keep funds in your solo 401k funds indefinitely. You have to start taking RMDs from your solo 401k once you turn age 72.  However, for the first RMD, the IRS allows you to […]

The SECURE Act & the 2022 IRS Proposed RMD Regulations Results in The End of the Stretch IRA for Most Non-Spouse Beneficiaries

With the passage of the 2019 SECURE Act and the proposed regulations regarding RMDs that were published earlier this year in 2022,  the  so-called “stretch” IRA  has been officially eliminated in most cases when the beneficiary is not the spouse.  As a result, most non-spouse IRA beneficiaries are now required to empty their inherited IRAs […]

Who is Required to Take Required Minimum Distributions from their Self-Directed Solo 401k in 2022?

2022 RMD Solo 401k Deadline

Knowing when to commence or to continue to take Required Minimum distributions can be quite confusing, as the dates vary based on when your first reach age 72 and if you have already been making RMDs.  We’ve put together the following post to help solo 401k participants understand the RMD deadlines. Existing (Ongoing Distributions) For […]

Who is Required to Take Required Minimum Distributions (RMD) from their Solo 401k Plan in 2021?

The requirement to make Required Minimum Distributions from your solo 401k is back for 2021. The Coronavirus Aid, Relief, and Economic Security (CARES) Act allowed plan sponsors to suspend required minimum distributions payable in 2020. There is no similar relief for 2021. Required minimum distributions for 2021 must be paid no later than December 31, […]

Congress Plans to Make Retirement Plan Reform in 2021

Last week The U.S. Senate Finance Committee had a hearing to discuss plan changes in 2021 for retirement plans including 401k, solo 401k, 457b and 403b. Here are some of the possible changes discussed: Allow for higher catch-up contributions for those age 60 or older. Increasing the the required minimum distribution (RMD) age from 72 […]

RMD Life Expectancy Tables Updated for Solo 401k Plans and Self-Directed IRA LLC by IRS Effective 2022

Last Updated November 24, 2022 For required minimum distributions (RMDs) beginning January 1, 2022 and after, the IRS on Nov. 6 issued final regulations that update the life expectancy and distribution period tables used for purposes of determining required minimum distributions (RMDs) from IRAs and qualified plans such as solo 401k plans.  The main takeaway […]

Latest IRS Reminder on No RMD Requirement in 2020

On July 17, 2020 the IRS released a reminder relating to not being required to take required minimum distributions (RMDs) in 2020 from IRAs and retirement plans such as 401k plans including solo 401k plans for the self-employed.   The waiver of the 2020 RMD from IRAs and solo 401k plans, for example, result from the […]

Who is Not Required to Take a 2018 RMD by December 31?

While most solo 401k owners who are 70 ½ or older will need to take a 2018 required minimum distribution (RMD) by December 31, 2018. However, that deadline does not apply to all solo 401k owners. Solo 401k owners who are age 70 ½ or over are not required to be take an RMD from their solo 401k by […]

In-Kind Solo 401k Distribution to Satisfy Required Minimum Distribution (RMD)

QUESTION: I will turn age 70 1/2 soon and want to know if I have to take my solo 401k required minimum distribution (RDM) from my solo 401k, or I can just take it from my Traditional IRA. Also, I invested all of my solo 401k funds in real estate, so I don’t have any […]

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