He Kept Working at 74 and Skipped the RMD on His 401(k), Which the Law Allows. He Also Owned 6% of the Company, Which the Law Doesn't

He Kept Working at 74 and Skipped the RMD on His 401(k), Which the Law Allows. He Also Owned 6% of the Company, Which the Law Doesn't

Working past 73 and skipping required minimum distributions is perfectly legal for certain employees, but a single ownership threshold hidden inside family attribution rules can collapse that strategy without anyone realizing it until years of penalties have stacked up.

He Kept Working at 74 and Skipped the RMD on His 401(k), Which the Law Allows. He Also Owned 6% of the Company, Which the Law Doesn’t

The post He Kept Working at 74 and Skipped the RMD on His 401(k), Which the Law Allows. He Also Owned 6% of the Company, Which the Law Doesn’t appeared first on 24/7 Wall St.. Something many people may not know is that the current tax code lets certain workers leave their current employer’s 401(k)…